EN
Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach
Abstract
Does the inclusion or exclusion from the Shariah index have any effect on the performance of a stock? This study aims to examine the impact of stock inclusion (or exclusion) on the stock prices and trading volume of the firms. Based on the case of selected stocks in Bursa Malaysia, our sample consists of 107 additions and 95 deletions from the FTSE Bursa Malaysia Emas Shariah Index (FBMESI) in the period of June 2007-June 2014. Event study methodology is used to estimate the abnormal returns and abnormal volumes in the days surrounding the announcement and change dates. The study finds the included stock shows significant and permanent excess returns and abnormal volumes. On the other hand, deleted stocks earn temporary significant negative returns and below normal volumes after the announcement and change dates.
Keywords
Ayrıntılar
Birincil Dil
İngilizce
Konular
-
Bölüm
-
Yayımlanma Tarihi
1 Haziran 2017
Gönderilme Tarihi
1 Haziran 2017
Kabul Tarihi
-
Yayımlandığı Sayı
Yıl 2017 Cilt: 7 Sayı: 2
APA
Kassim, N. S., Ramlee, R., & Kassim, S. (2017). Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach. International Journal of Economics and Financial Issues, 7(2), 40-51. https://izlik.org/JA73HY23WL
AMA
1.Kassim NS, Ramlee R, Kassim S. Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach. IJEFI. 2017;7(2):40-51. https://izlik.org/JA73HY23WL
Chicago
Kassim, Nawal Seif, Roslily Ramlee, ve Salina Kassim. 2017. “Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach”. International Journal of Economics and Financial Issues 7 (2): 40-51. https://izlik.org/JA73HY23WL.
EndNote
Kassim NS, Ramlee R, Kassim S (01 Haziran 2017) Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach. International Journal of Economics and Financial Issues 7 2 40–51.
IEEE
[1]N. S. Kassim, R. Ramlee, ve S. Kassim, “Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach”, IJEFI, c. 7, sy 2, ss. 40–51, Haz. 2017, [çevrimiçi]. Erişim adresi: https://izlik.org/JA73HY23WL
ISNAD
Kassim, Nawal Seif - Ramlee, Roslily - Kassim, Salina. “Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach”. International Journal of Economics and Financial Issues 7/2 (01 Haziran 2017): 40-51. https://izlik.org/JA73HY23WL.
JAMA
1.Kassim NS, Ramlee R, Kassim S. Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach. IJEFI. 2017;7:40–51.
MLA
Kassim, Nawal Seif, vd. “Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach”. International Journal of Economics and Financial Issues, c. 7, sy 2, Haziran 2017, ss. 40-51, https://izlik.org/JA73HY23WL.
Vancouver
1.Nawal Seif Kassim, Roslily Ramlee, Salina Kassim. Impact of Inclusion into and Exclusion from the Shariah Index on a Stock Price and Trading Volume: An Event Study Approach. IJEFI [Internet]. 01 Haziran 2017;7(2):40-51. Erişim adresi: https://izlik.org/JA73HY23WL