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Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices

In this paper, we aim to investigate the influence of the Covid-19 on the behavior of the S&P 1200 Shariah and non-Shariah sectoral indices over the period from 1st October 2010 to 29th October 2020. We contribute to the global literature by examining the financial impact of the Covid-19 on the...

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Autores principales: Dharani, Munusamy, Hassan, M. Kabir, Rabbani, Mustafa Raza, Huq, Tahsin
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8427905/
https://www.ncbi.nlm.nih.gov/pubmed/34522060
http://dx.doi.org/10.1016/j.ribaf.2021.101537
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author Dharani, Munusamy
Hassan, M. Kabir
Rabbani, Mustafa Raza
Huq, Tahsin
author_facet Dharani, Munusamy
Hassan, M. Kabir
Rabbani, Mustafa Raza
Huq, Tahsin
author_sort Dharani, Munusamy
collection PubMed
description In this paper, we aim to investigate the influence of the Covid-19 on the behavior of the S&P 1200 Shariah and non-Shariah sectoral indices over the period from 1st October 2010 to 29th October 2020. We contribute to the global literature by examining the financial impact of the Covid-19 on the Shariah and non-Shariah sectoral indices. We find that the S&P 1200 Shariah Communication, consumer staples, financials, healthcare, industrials, IT, materials, and utility sectors earn higher average returns than their counterpart sectoral indices during the Covid-19 period. The study reports that on average, the volatility of the Shariah indices is less than their counterpart indices. Moreover, we further document that on average the S&P Shariah sectoral indices offer a higher return with low risk even during the Covid-19 global pandemic. We suggest that ethical investments are the best alternatives to retail, institutional, and foreign investors.
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spelling pubmed-84279052021-09-09 Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices Dharani, Munusamy Hassan, M. Kabir Rabbani, Mustafa Raza Huq, Tahsin Res Int Bus Finance Full length Article In this paper, we aim to investigate the influence of the Covid-19 on the behavior of the S&P 1200 Shariah and non-Shariah sectoral indices over the period from 1st October 2010 to 29th October 2020. We contribute to the global literature by examining the financial impact of the Covid-19 on the Shariah and non-Shariah sectoral indices. We find that the S&P 1200 Shariah Communication, consumer staples, financials, healthcare, industrials, IT, materials, and utility sectors earn higher average returns than their counterpart sectoral indices during the Covid-19 period. The study reports that on average, the volatility of the Shariah indices is less than their counterpart indices. Moreover, we further document that on average the S&P Shariah sectoral indices offer a higher return with low risk even during the Covid-19 global pandemic. We suggest that ethical investments are the best alternatives to retail, institutional, and foreign investors. Elsevier B.V. 2022-01 2021-09-09 /pmc/articles/PMC8427905/ /pubmed/34522060 http://dx.doi.org/10.1016/j.ribaf.2021.101537 Text en © 2021 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Full length Article
Dharani, Munusamy
Hassan, M. Kabir
Rabbani, Mustafa Raza
Huq, Tahsin
Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices
title Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices
title_full Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices
title_fullStr Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices
title_full_unstemmed Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices
title_short Does the Covid-19 pandemic affect faith-based investments? Evidence from global sectoral indices
title_sort does the covid-19 pandemic affect faith-based investments? evidence from global sectoral indices
topic Full length Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8427905/
https://www.ncbi.nlm.nih.gov/pubmed/34522060
http://dx.doi.org/10.1016/j.ribaf.2021.101537
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