Investor sentiment under the Maqasid Al-Shari'ah compliance asset pricing model: a behavioral finance approach to Islamic finance / Igo Febrianto, Norhayati Mohamed and Imbarine Bujang

This study provides perspectives and insights into the importance of Maqasid al-Shari'ah in the discourse of Shari'ah-Compliant Asset Pricing Model (SCAPM) development by considering inflation and zakat as the minimum level of expected return. The study also integrated market risk and inve...

Volledige beschrijving

Bewaard in:
Bibliografische gegevens
Hoofdauteurs: Febrianto, Igo (Auteur), Mohamed, Norhayati (Auteur), Bujang, Imbarine (Auteur)
Formaat: Boek
Gepubliceerd in: Accounting Research Institute (ARI) and UiTM Press, Universiti Teknologi MARA, 2023-08.
Onderwerpen:
Online toegang:Link Metadata
Tags: Voeg label toe
Geen labels, Wees de eerste die dit record labelt!

MARC

LEADER 00000 am a22000003u 4500
001 repouitm_83422
042 |a dc 
100 1 0 |a Febrianto, Igo  |e author 
700 1 0 |a Mohamed, Norhayati  |e author 
700 1 0 |a Bujang, Imbarine  |e author 
245 0 0 |a Investor sentiment under the Maqasid Al-Shari'ah compliance asset pricing model: a behavioral finance approach to Islamic finance / Igo Febrianto, Norhayati Mohamed and Imbarine Bujang 
260 |b Accounting Research Institute (ARI) and UiTM Press, Universiti Teknologi MARA,   |c 2023-08. 
500 |a https://ir.uitm.edu.my/id/eprint/83422/1/83422.pdf 
520 |a This study provides perspectives and insights into the importance of Maqasid al-Shari'ah in the discourse of Shari'ah-Compliant Asset Pricing Model (SCAPM) development by considering inflation and zakat as the minimum level of expected return. The study also integrated market risk and investor sentiment as systematic risks faced by Muslim investors in stock investments. Using a non-linear panel ARDL approach with monthly panel data from 109 Shari'ah-compliant listed companies on the Indonesian Stock Exchange between October 2007 and June 2021 (164 months), the study found that the Islamic market risk premium and investor sentiment had a positive long-term impact on Shari'ah-compliant stock returns. Surprisingly, market risk premium had a reverse effect in the short term, while investor sentiment remained positive. These findings contribute to understanding Islamic finance and have practical implications for investors, financial institutions, and policymakers. 
546 |a en 
690 |a Finance, Islamic 
690 |a KBP Islamic law. Sharī'ah. Fiqh 
655 7 |a Article  |2 local 
655 7 |a PeerReviewed  |2 local 
787 0 |n https://ir.uitm.edu.my/id/eprint/83422/ 
787 0 |n https://apmaj.uitm.edu.my/ 
856 4 1 |u https://ir.uitm.edu.my/id/eprint/83422/  |z Link Metadata