Stock market screening: An analogical study on conventional and shariah-compliant stock markets
enchmarking 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...
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| Format: | Article |
| Language: | English English |
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Canadian Center of Science and Education
2014
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| Online Access: | http://irep.iium.edu.my/58526/ http://irep.iium.edu.my/58526/1/58526_Stock%20Market%20Screening_article.pdf http://irep.iium.edu.my/58526/2/58526_Stock%20Market%20Screening_scopus.pdf |
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| author | Zandi, Gholamreza Reza Abdul Razak, Dzuljastri Hussin, Nur Hidayah |
| author_facet | Zandi, Gholamreza Reza Abdul Razak, Dzuljastri Hussin, Nur Hidayah |
| author_sort | Zandi, Gholamreza Reza |
| building | IIUM Repository |
| collection | Online Access |
| description | enchmarking 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. |
| first_indexed | 2025-11-14T16:48:14Z |
| format | Article |
| id | iium-58526 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:48:14Z |
| publishDate | 2014 |
| publisher | Canadian Center of Science and Education |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-585262017-09-26T03:28:31Z http://irep.iium.edu.my/58526/ Stock market screening: An analogical study on conventional and shariah-compliant stock markets Zandi, Gholamreza Reza Abdul Razak, Dzuljastri Hussin, Nur Hidayah HG Finance HG4001 Financial management. Business finance. Corporation finance. enchmarking 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. Canadian Center of Science and Education 2014-10 Article PeerReviewed application/pdf en http://irep.iium.edu.my/58526/1/58526_Stock%20Market%20Screening_article.pdf application/pdf en http://irep.iium.edu.my/58526/2/58526_Stock%20Market%20Screening_scopus.pdf Zandi, Gholamreza Reza and Abdul Razak, Dzuljastri and Hussin, Nur Hidayah (2014) Stock market screening: An analogical study on conventional and shariah-compliant stock markets. Asian Social Science, 10 (22). pp. 270-279. ISSN 1911-2017 E-ISSN 1911-2025 http://www.ccsenet.org/journal/index.php/ass/article/view/41746/22887 10.5539/ass.v10n22p270 |
| spellingShingle | HG Finance HG4001 Financial management. Business finance. Corporation finance. Zandi, Gholamreza Reza Abdul Razak, Dzuljastri Hussin, Nur Hidayah Stock market screening: An analogical study on conventional and shariah-compliant stock markets |
| title | Stock market screening: An analogical study on conventional and shariah-compliant stock markets |
| title_full | Stock market screening: An analogical study on conventional and shariah-compliant stock markets |
| title_fullStr | Stock market screening: An analogical study on conventional and shariah-compliant stock markets |
| title_full_unstemmed | Stock market screening: An analogical study on conventional and shariah-compliant stock markets |
| title_short | Stock market screening: An analogical study on conventional and shariah-compliant stock markets |
| title_sort | stock market screening: an analogical study on conventional and shariah-compliant stock markets |
| topic | HG Finance HG4001 Financial management. Business finance. Corporation finance. |
| url | http://irep.iium.edu.my/58526/ http://irep.iium.edu.my/58526/ http://irep.iium.edu.my/58526/ http://irep.iium.edu.my/58526/1/58526_Stock%20Market%20Screening_article.pdf http://irep.iium.edu.my/58526/2/58526_Stock%20Market%20Screening_scopus.pdf |