NDLI: Stock Market Screening: An Analogical Study on Conventional and Shariah-Compliant Stock Markets

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Stock Market Screening: An Analogical Study on Conventional and Shariah-Compliant Stock Markets

Content Provider	Scilit
Author	Zandi, Gholamreza Razak, Dzuljastri Abdul Hussin, Nur Hidayah
Copyright Year	2014
Description	Benchmarking Shariah-Compliant stocks listed in Bursa Malaysia, this paper examined whether the stocks which are approved by SACSC are also considered as Shariah-Compliant under International Indices. 35 top Shariah-Compliant stocks listed in Bursa Malaysia were examined against four stock screening criteria of DJIM, MSCI, FTSE and S&P. Due to the differences in stock screening criteria, the factors evaluated that lead to variances in Shariah-Compliant status for a particular stock. The results from the test indicate that Shariah-Compliant stocks listed in Bursa Malaysia are not necessarily Shariah-Compliant stocks in the four Indices of DJIM, MSCI, FTSE and S&P. The high debt and low market capitalization are the main factors of dropping the Malaysian Shariah-Compliant stocks by the four Indices. The three stages of screening which carry the most Islamic stock screening process include screening on industry, income statement and balance sheet.
ISSN	19112017
e-ISSN	19112025
DOI	10.5539/ass.v10n22p270
Journal	Asian Social Science
Issue Number	22
Volume Number	10
Language	English
Publisher	Canadian Center of Science and Education
Publisher Date	2014-10-29
Access Restriction	Open
Subject Keyword	Applied Ethics Shariah Compliant Stocks
Content Type	Text
Resource Type	Article
Subject	Arts and Humanities Economics, Econometrics and Finance Social Sciences

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