A Study of Performance of the KLSE Syariah Index
This study compares the performance of the Syariah Index (SI) and the Composite Index (CI) of the Kuala Lumpur Stock Exchange (KLSE) during the period April 1 999 to January 2002, Both the raw and risk-adjusted returns were calculated for the indices for the whole and two sub-periods. Results based...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
UUM Press
2020-01-01
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| Series: | Malaysian Management Journal |
| Online Access: | https://www.scienceopen.com/document?vid=f9861456-b436-4b27-ada1-49fb7d791f9d |
| _version_ | 1828005910582132736 |
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| author | Zamri Ahmad Haslindar Ibrahim |
| author_facet | Zamri Ahmad Haslindar Ibrahim |
| author_sort | Zamri Ahmad |
| collection | DOAJ |
| description | This study compares the performance of the Syariah Index (SI) and the Composite Index (CI) of the Kuala Lumpur Stock Exchange (KLSE) during the period April 1 999 to January 2002, Both the raw and risk-adjusted returns were calculated for the indices for the whole and two sub-periods. Results based on the raw returns revealed that generally, the KLSE SI and CI recorded the same level of returns. Tests using performance measures of Adjusted Sharpe Index, Treynor Index and Adjusted Jensen Alpha revealed that there were also no significant difference in the (risk-adjusted) performance of both indices. We therefore conclude that Syariah-approved stocks were not more favourable than the other stocks in the KLSE. |
| first_indexed | 2024-04-10T07:49:11Z |
| format | Article |
| id | doaj.art-c5d82eeed055427ab0daf372fbc04c97 |
| institution | Directory Open Access Journal |
| issn | 0128-6226 2289-6651 |
| language | English |
| last_indexed | 2024-04-10T07:49:11Z |
| publishDate | 2020-01-01 |
| publisher | UUM Press |
| record_format | Article |
| series | Malaysian Management Journal |
| spelling | doaj.art-c5d82eeed055427ab0daf372fbc04c972023-02-23T10:22:10ZengUUM PressMalaysian Management Journal0128-62262289-66512020-01-0110.32890/mmj.6.1-2.2002.8594A Study of Performance of the KLSE Syariah IndexZamri AhmadHaslindar IbrahimThis study compares the performance of the Syariah Index (SI) and the Composite Index (CI) of the Kuala Lumpur Stock Exchange (KLSE) during the period April 1 999 to January 2002, Both the raw and risk-adjusted returns were calculated for the indices for the whole and two sub-periods. Results based on the raw returns revealed that generally, the KLSE SI and CI recorded the same level of returns. Tests using performance measures of Adjusted Sharpe Index, Treynor Index and Adjusted Jensen Alpha revealed that there were also no significant difference in the (risk-adjusted) performance of both indices. We therefore conclude that Syariah-approved stocks were not more favourable than the other stocks in the KLSE. https://www.scienceopen.com/document?vid=f9861456-b436-4b27-ada1-49fb7d791f9d |
| spellingShingle | Zamri Ahmad Haslindar Ibrahim A Study of Performance of the KLSE Syariah Index Malaysian Management Journal |
| title | A Study of Performance of the KLSE Syariah Index |
| title_full | A Study of Performance of the KLSE Syariah Index |
| title_fullStr | A Study of Performance of the KLSE Syariah Index |
| title_full_unstemmed | A Study of Performance of the KLSE Syariah Index |
| title_short | A Study of Performance of the KLSE Syariah Index |
| title_sort | study of performance of the klse syariah index |
| url | https://www.scienceopen.com/document?vid=f9861456-b436-4b27-ada1-49fb7d791f9d |
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