Islamic investment behaviour
AbstractPurpose – In the past decade, there has been strong growth in Islamic finance and banking across the globe, there is little empirical evidence on the impact of religiosity on financial decisions. This paper aims to address this issue. Design/methodology/approach – This paper uses an experimental design to investigate the investment behaviours of a group of Muslims. Findings – The paper finds that Islam does influence investment behaviour, however, the degree to which it does this is influenced by the degree of religiosity of the individual. In addition, evidence is found of “Western style” wealth maximisation amongst Muslim investors as well as a desire to consider sustainable investment principles in asset allocations. Research limitations/implications – These findings have implications for investors, financial advisors, and policy makers. Originality/value – The paper is original its use of the experimental design to test the impact of religiosity in the context of investment decisions by Muslims.
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Bibliographic InfoArticle provided by Emerald Group Publishing in its journal International Journal of Islamic and Middle Eastern Finance and Management.
Volume (Year): 4 (2011)
Issue (Month): 2 (June)
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Web page: http://www.emeraldinsight.com
Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03.
- Shaikh, Salman, 2012. "Islamic Banking in Pakistan: A Critical Analysis," MPRA Paper 42497, University Library of Munich, Germany.
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