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The Impact of firms' compliance to shariah on stock price synchronicity
The continuous growth in Islamic finance over the past decades grabbed the interest of empirical researchers who investigated different aspects of Shariah compliant firms. In this thesis, we are interested to explore the impact of Shariah compliance on stock price synchronicity and informativeness....
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| Format: | Thesis |
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AUC Knowledge Fountain
2020
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| _version_ | 1867613412211556352 |
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| access_status_str | Open Access |
| author | Sharafeldin, Aya Mohamed |
| author_browse | Sharafeldin, Aya Mohamed |
| author_facet | Sharafeldin, Aya Mohamed |
| author_sort | Sharafeldin, Aya Mohamed |
| collection | Thesis |
| dc_rights_str_mv | The author retains all rights with regard to copyright. The author certifies that written permission from the owner(s) of third-party copyrighted matter included in the thesis, dissertation, paper, or record of study has been obtained. The author further certifies that IRB approval has been obtained for this thesis, or that IRB approval is not necessary for this thesis. Insofar as this thesis, dissertation, paper, or record of study is an educational record as defined in the Family Educational Rights and Privacy Act (FERPA) (20 USC 1232g), the author has granted consent to disclosure of it to anyone who requests a copy. |
| description | The continuous growth in Islamic finance over the past decades grabbed the interest of empirical researchers who investigated different aspects of Shariah compliant firms. In this thesis, we are interested to explore the impact of Shariah compliance on stock price synchronicity and informativeness. Our rational is that Shariah standard forced compliant firms to release more firm-specific information compared with conventional ones and given that Shariah compliant firms are more associated with information transparency taking into consideration the impact of the Shariah on the governance of the compliant firms. We claim that these features of Shariah compliant firms lead to less price synchronicity compared with conventional firms. We use data from 11 emerging and developed countries for the period of 2000 to 2018. Our findings suggest that firms' compliance to Shariah has a significant negative impact on stock price synchronicity confirming that Shariah compliance decreases the co-movements of the stocks. The results are consistent with the unique characteristics and the financial ratio constrains of compliant firms increase the information transparency and accuracy. |
| format | Thesis |
| id | oai:fount.aucegypt.edu:etds-1818 |
| institution | American University in Cairo (Egypt) |
| last_indexed | 2026-06-10T12:35:43.583Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from AUC Knowledge Fountain — bepress |
| publishDate | 2020 |
| publishDateRange | 2020 |
| publishDateSort | 2020 |
| publisher | AUC Knowledge Fountain |
| publisherStr | AUC Knowledge Fountain |
| record_format | dspace |
| source_str | AUC Knowledge Fountain — bepress |
| spelling | oai:fount.aucegypt.edu:etds-1818 The Impact of firms' compliance to shariah on stock price synchronicity Sharafeldin, Aya Mohamed The continuous growth in Islamic finance over the past decades grabbed the interest of empirical researchers who investigated different aspects of Shariah compliant firms. In this thesis, we are interested to explore the impact of Shariah compliance on stock price synchronicity and informativeness. Our rational is that Shariah standard forced compliant firms to release more firm-specific information compared with conventional ones and given that Shariah compliant firms are more associated with information transparency taking into consideration the impact of the Shariah on the governance of the compliant firms. We claim that these features of Shariah compliant firms lead to less price synchronicity compared with conventional firms. We use data from 11 emerging and developed countries for the period of 2000 to 2018. Our findings suggest that firms' compliance to Shariah has a significant negative impact on stock price synchronicity confirming that Shariah compliance decreases the co-movements of the stocks. The results are consistent with the unique characteristics and the financial ratio constrains of compliant firms increase the information transparency and accuracy. 2020-02-01T08:00:00Z thesis application/pdf https://fount.aucegypt.edu/etds/819 https://fount.aucegypt.edu/context/etds/article/1818/viewcontent/Thesis_20Aya_20Sharafeldin_20final.pdf The author retains all rights with regard to copyright. The author certifies that written permission from the owner(s) of third-party copyrighted matter included in the thesis, dissertation, paper, or record of study has been obtained. The author further certifies that IRB approval has been obtained for this thesis, or that IRB approval is not necessary for this thesis. Insofar as this thesis, dissertation, paper, or record of study is an educational record as defined in the Family Educational Rights and Privacy Act (FERPA) (20 USC 1232g), the author has granted consent to disclosure of it to anyone who requests a copy. Theses and Dissertations AUC Knowledge Fountain Shariah NA NA |
| spellingShingle | Shariah NA NA Sharafeldin, Aya Mohamed The Impact of firms' compliance to shariah on stock price synchronicity |
| title | The Impact of firms' compliance to shariah on stock price synchronicity |
| title_full | The Impact of firms' compliance to shariah on stock price synchronicity |
| title_fullStr | The Impact of firms' compliance to shariah on stock price synchronicity |
| title_full_unstemmed | The Impact of firms' compliance to shariah on stock price synchronicity |
| title_short | The Impact of firms' compliance to shariah on stock price synchronicity |
| title_sort | impact of firms compliance to shariah on stock price synchronicity |
| topic | Shariah NA NA |
| url | https://fount.aucegypt.edu/etds/819 https://fount.aucegypt.edu/context/etds/article/1818/viewcontent/Thesis_20Aya_20Sharafeldin_20final.pdf |
| work_keys_str_mv | AT sharafeldinayamohamed theimpactoffirmscompliancetoshariahonstockpricesynchronicity AT sharafeldinayamohamed impactoffirmscompliancetoshariahonstockpricesynchronicity |