文章基本信息

标题：Investment opportunities and stock liquidity:evidence from DJIM index additions in the Persian Gulf states
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作者：Mehdi Sadeghi
期刊名称：Investment Management & Financial Innovations
印刷版ISSN：1810-4967
电子版ISSN：1812-9358
出版年度：2011
卷号：8
期号：1
页码：53-62
语种：English
出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：This paper investigates the impacts of index additions on the return and liquidity of Shariah-compliant shares in Kuwait,Oman,Qatar,and UAE.The author uses the sample of companies added to the Dow Jones Islamic Market index over the period of January 2008-December 2009.The findings show that stock prices respond positively to index addi?tion events.However,evidence in support of the changes in the liquidity of added shares is mixed,depending on the country and the liquidity measures.These findings have important implications for Shariah-complaint investors,show?ing that companies whose activities reflect the beliefs and ethos of their investors in the Middle East may also be at?tractive from an investment point of view.
关键词：Shariah-compliant investment;index addition;event study;abnormal returns;liquidity effects.