Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali
Using the sample of 107 shariah-compliant and non shariah-compliant securities in Malaysia from January 1990 to December 2011, we examine their performances by applying the performance measure of Jensen Alpha Index and Treynor Index. The sample period is divided into four segments of pre AFC (Asian...
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| Format: | Article |
| Language: | English |
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Faculty of Accountancy & Accounting Research Institute (ARI)
2014
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| Online Access: | https://ir.uitm.edu.my/id/eprint/13678/1/AJ_MOHD%20ALLIF%20ANWAR%20ABU%20BAKAR%20MAR%2014.pdf |
| _version_ | 1825734141557080064 |
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| author | Abu Bakar, Mohd Allif Anwar Ali, Norli |
| author_facet | Abu Bakar, Mohd Allif Anwar Ali, Norli |
| author_sort | Abu Bakar, Mohd Allif Anwar |
| collection | UITM |
| description | Using the sample of 107 shariah-compliant and non shariah-compliant securities in Malaysia from January 1990 to December 2011, we examine their performances by applying the performance measure of Jensen Alpha Index and Treynor Index. The sample period is divided into four segments
of pre AFC (Asian Financial Crisis), during AFC, post AFC and Subprime Mortgage Crisis. Our results showed that the performance of shariah compliant securities tend to be indifferent with non shariah-compliant securities. However, the performance of both portfolios is significantly different between the four segments of pre AFC, during AFC, post AFC and Subprime Mortgage Crisis. One important portfolio implication from this study is that the market players are able to plan ahead in their investment and portfolio diversification especially during economic downturns. |
| first_indexed | 2024-03-06T01:27:20Z |
| format | Article |
| id | oai:ir.uitm.edu.my:13678 |
| institution | Universiti Teknologi MARA |
| language | English |
| last_indexed | 2024-03-06T01:27:20Z |
| publishDate | 2014 |
| publisher | Faculty of Accountancy & Accounting Research Institute (ARI) |
| record_format | dspace |
| spelling | oai:ir.uitm.edu.my:136782016-07-21T07:21:28Z https://ir.uitm.edu.my/id/eprint/13678/ Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali mar Abu Bakar, Mohd Allif Anwar Ali, Norli Islam Performance standards Investment companies. Investment trusts. Mutual funds Government securities. Industrial securities. Venture capital Using the sample of 107 shariah-compliant and non shariah-compliant securities in Malaysia from January 1990 to December 2011, we examine their performances by applying the performance measure of Jensen Alpha Index and Treynor Index. The sample period is divided into four segments of pre AFC (Asian Financial Crisis), during AFC, post AFC and Subprime Mortgage Crisis. Our results showed that the performance of shariah compliant securities tend to be indifferent with non shariah-compliant securities. However, the performance of both portfolios is significantly different between the four segments of pre AFC, during AFC, post AFC and Subprime Mortgage Crisis. One important portfolio implication from this study is that the market players are able to plan ahead in their investment and portfolio diversification especially during economic downturns. Faculty of Accountancy & Accounting Research Institute (ARI) 2014 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/13678/1/AJ_MOHD%20ALLIF%20ANWAR%20ABU%20BAKAR%20MAR%2014.pdf Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali. (2014) Malaysian Accounting Review <https://ir.uitm.edu.my/view/publication/Malaysian_Accounting_Review/>, 13 (1). pp. 75-108. ISSN 1675-4077 https://mar.uitm.edu.my/ |
| spellingShingle | Islam Performance standards Investment companies. Investment trusts. Mutual funds Government securities. Industrial securities. Venture capital Abu Bakar, Mohd Allif Anwar Ali, Norli Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali |
| title | Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali |
| title_full | Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali |
| title_fullStr | Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali |
| title_full_unstemmed | Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali |
| title_short | Performance measurement analysis : Shariah-compliant vs. Non Shariah-compliant securities / Mohd Allif Anwar and Norli Ali |
| title_sort | performance measurement analysis shariah compliant vs non shariah compliant securities mohd allif anwar and norli ali |
| topic | Islam Performance standards Investment companies. Investment trusts. Mutual funds Government securities. Industrial securities. Venture capital |
| url | https://ir.uitm.edu.my/id/eprint/13678/1/AJ_MOHD%20ALLIF%20ANWAR%20ABU%20BAKAR%20MAR%2014.pdf |
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