摘要: The first Dow Jones Islamic market index (DJIMI) was launched in February 1999. A comprehensive study of the performance each that accounts for effects industry, size, and economic conditions reveals indexes provided investors with positive abnormal returns over 1996-2003, but underperformed bear “subperiod.” Equally important, empirical findings this article, contrast to common belief technology sector firms are behind indexes9 returns, provide evidence smallness basic materials, consumer cyclicals, industrial telecommunication industries dominant driving factors
iijournals.com参考文章(18)
Lorne S. Cummings, The Financial Performance of Ethical Investment Trusts: An Australian Perspective Journal of Business Ethics. ,vol. 25, pp. 79- 92 ,(2000) , 10.1023/A:1006102802904
John H. Langbein, Richard A. Posner, Social Investing and the Law of Trusts Michigan Law Review. ,vol. 79, pp. 72- 112 ,(1980) , 10.2307/1288337
Alan Gregory, John Matatko, Robert Luther, Ethical Unit Trust Financial Performance: Small Company Effects and Fund Size Effects Journal of Business Finance & Accounting. ,vol. 24, pp. 705- 725 ,(1997) , 10.1111/1468-5957.00130
David A. Sauer, The impact of social-responsibility screens on investment performance: Evidence from the Domini 400 social index and Domini Equity Mutual Fund Review of Financial Economics. ,vol. 6, pp. 137- 149 ,(1997) , 10.1016/S1058-3300(97)90002-1
C.A. Mallin, B. Saadouni, R.J. Briston, The Financial Performance of Ethical Investment Funds Journal of Business Finance & Accounting. ,vol. 22, pp. 483- 496 ,(1995) , 10.1111/J.1468-5957.1995.TB00373.X
Brad M. Barber, John D. Lyon, Detecting long-run abnormal stock returns: The empirical power and specification of test statistics Journal of Financial Economics. ,vol. 43, pp. 341- 372 ,(1997) , 10.1016/S0304-405X(96)00890-2
John D. Lyon, Brad M. Barber, Chih-Ling Tsai, Improved Methods for Tests of Long-Run Abnormal Stock Returns Journal of Finance. ,vol. 54, pp. 165- 201 ,(1999) , 10.1111/0022-1082.00101
S.P. Kothari, Jerold B. Warner, Measuring long-horizon security price performance Journal of Financial Economics. ,vol. 43, pp. 301- 339 ,(1997) , 10.1016/S0304-405X(96)00899-9
ALON BRAV, PAUL A. GOMPERS, Myth or Reality? The Long‐Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital‐Backed Companies Journal of Finance. ,vol. 52, pp. 1791- 1821 ,(1997) , 10.1111/J.1540-6261.1997.TB02742.X
Meir Statman, Socially Responsible Mutual Funds (corrected) Financial Analysts Journal. ,vol. 56, pp. 30- 39 ,(2000) , 10.2469/FAJ.V56.N3.2358