Publication:
How do Islamic equities respond to monetary actions?
| DC Field | Value | |
|---|---|---|
| dc.contributor.author | Zaheer Anwer | |
| dc.contributor.author | Choudhary Wajahat Naeem Azmi | |
| dc.contributor.author | Shamsher Mohamad Ramadili Mohd | |
| dc.date.accessioned | 2020-09-17T08:40:09Z | |
| dc.date.available | 2020-09-17T08:40:09Z | |
| dc.date.issued | 2019 | |
| dc.description.abstract | The purpose of this paper is to appraise the effectiveness of monetary policy actions in variant market conditions for Islamic stocks. These stocks offer ground for a natural experiment as they have restrictions on the line of business and their distinguished capital structure does not allow them to combat the liquidity crisis through the use of leverage. The paper uses the quantile regression approach for a multi-country sample of Islamic stock indices to assess the impact of domestic as well as US expansionary monetary policy on stock returns of Islamic indices at various locations of distribution of returns. It is found that, at lower return levels, an expansionary monetary policy has a negative effect on the returns. In other cases, there is no significant impact of policy rate change on index returns. It is more appropriate to use firm level data of Islamic stocks instead of stock indices. However, the information regarding index constituents is not publicly available ... | en_US |
| dc.identifier.citation | Anwer, Z., Naeem Azmi, C. W., & Ramadili Mohd, S. M. (2019). How do Islamic equities respond to monetary actions? International Journal of Emerging Markets, 14 (4), pp. 503-522. | en_US |
| dc.identifier.doi | https://doi.org/10.1108/IJOEM-11-2017-0459 | |
| dc.identifier.issn | 1746-8809 | |
| dc.identifier.uri | https://ikr.inceif.edu.my/handle/INCEIF/3293 | |
| dc.language | English | |
| dc.language.iso | eng | en_US |
| dc.publisher | Emerald Publishing Limited | en_US |
| dc.rights | 2019. Emerald Publishing Limited | |
| dc.source | SEDONA | |
| dc.subject | Quantile regression | en_US |
| dc.subject | Monetary policy | en_US |
| dc.subject | Islamic stocks | en_US |
| dc.title | How do Islamic equities respond to monetary actions? | en_US |
| dc.type | Journal Article | en_US |
| dlc.maintopic | Islamic capital markets | en_US |
| dspace.entity.type | Publication | |
| ikr.doctype | Scholarly Works | |
| ikr.topic.maintopic | Islamic capital markets | en_US |
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