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Nonfinancial traits and financial smartness: international evidence from Shariah-compliant and socially responsible funds

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dc.contributor.authorNaeem Azmi, Choudhary Wajahat
dc.contributor.authorMohd Rasid, Mohamed Eskandar Shah
dc.contributor.authorShamsher Mohamad Ramadili Mohd
dc.date.accessioned2018-11-05T11:30:54Z
dc.date.available2018-11-05T11:30:54Z
dc.date.issued2018
dc.description.abstractThis paper examines the flow-performance relationship and the presence of "Smart money effect" in Socially responsible funds (SRFs) and Shariah compliant funds (SCFs). A survivorship bias free sample of 686 funds comprising of 212 SCFs and 474 SRFs were analysed with investment focus in the Asia pacific, Emerging markets, Europe, Global (with no focus to any specific country or region), Middle East and North Africa (MENA) and North America. The findings show that flow-performance relationship is asymmetric for both the funds as the response to positive returns is more as compare to the negative returns for the last/current year as well as the last/current month. There is also a significant presence of "Smart money effect" in both the funds for the entire sample but there is no evidence of "Smart money effect" in SRFs for the sample of old funds.en_US
dc.identifier.citationNaeem Azmi, Choudhary Wajahat and Ramadili Mohd, Shamsher Mohamad and Mohd Rasid, Mohamed Eskandar Shah. (2018). Nonfinancial traits and financial smartness: international evidence from Shariah-compliant and socially responsible funds. Journal of International Financial Markets, Institutions & Money, 56, pp. 201-217.en_US
dc.identifier.doihttps://doi.org/10.1016/j.intfin.2018.02.001
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/3003
dc.languageEnglish
dc.language.isoengen_US
dc.publisherElsevier B.V.en_US
dc.rights2018. Elsevier B.V.
dc.sourceSEDONA
dc.subjectSocially responsible fundsen_US
dc.subjectShariah compliant fundsen_US
dc.subjectSmart money effecten_US
dc.subjectFlow performance relationshipen_US
dc.titleNonfinancial traits and financial smartness: international evidence from Shariah-compliant and socially responsible fundsen_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic capital marketsen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic capital marketsen_US
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relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
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relation.isAuthorOfPublication.latestForDiscovery33b91dde-0170-454c-8f2b-ec4b208837b9
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