Ouadghiria, Imane El and Peillex, Jonathan,(2018), Public attention to “Islamic terrorism” and stock market returns. , Journal of Comparative Economics 46 (2018) 936–946, UNSPECIFIED
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Abstract
Does public attention to Islamic terrorism affect the performance of Islamic and conventional
indices? We answer this question by empirically examining the effects of US public attention to
Islamic terrorism on returns of US Islamic and conventional indices between 2004 and 2017. US
public attention to Islamic terrorism is measured using Google Search Volume, which reflects
active public attentiveness, and media coverage, which measures passive attentiveness. We test
its effect on the stock returns of Islamic and conventional indices by using difference-in-difference
analysis. The results indicate that US public attention to Islamic terrorism negatively affects
US Islamic indices, suggesting that investors may make amalgams between terrorism and Islamic
finance. These clichés may lead them to sell Sharia-compliant assets when US public attention to
Islamic terrorism is high. Taken together, our findings provide new evidence and financial implications
for investors and providers of Islamic financial products
Keywords : | Difference-in difference analysis Islamic indices Public attention Terrorism, UNSPECIFIED |
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Journal or Publication Title: | Journal of Comparative Economics 46 (2018) 936–946 |
Volume: | 46 |
Number: | UNSPECIFIED |
Item Type: | Article |
Subjects: | Ekonomi Islam |
Depositing User: | Nila Nurjanah |
Date Deposited: | 16 Dec 2019 06:27 |
Last Modified: | 16 Dec 2019 06:27 |
URI: | https://repofeb.undip.ac.id/id/eprint/191 |