Quantifying the connectedness and portfolio implications between Islamic and conventional bonds: Evidence from global and GCC regions

Amin, Md. Ruhul; Hakim, M. A.; Rashid, Md. Mamunur; Hasan, Shaikh Masrick

doi:10.58567/jea01020001

Cited by 3 publications

(4 citation statements)

References 62 publications

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“…China's financial system currently has apparent characteristics of transformation. The distribution of the financial system implies government guarantees, ownership discrimination, and weak risk appetite, which makes capital concentrated in the real estate industry (Ge, 2007;Amin et al, 2022). This is an important reason for the inefficient allocation of resources in the financial sector.…”

Section: Theoretical Mechanismmentioning

confidence: 99%

How does financial development environment affect regional innovation capabilities? New perspectives from digital finance and institutional quality

Lu¹,

Dagestani²

2023

JIE

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Based on China's 30 provincial panel data from 2006 to 2018, this paper uses the spatial Durbin model to empirically study the influence path and transmission mechanism of financial development on regional technological innovation, and introduce digital finance environment, marketization degree, and government environmental management as an adjustment variable to verify its regulating effect on financial development and regional technological innovation. The study found that the overall promotion of digital finance to local technological innovation is not significant. Besides, the characteristics of ownership discrimination and weak risk appetite in the bank's medium and long-term credit market have led to its failure to promote regional technological innovation. In contrast, the stock market and bond market in direct financing channels have enhanced local innovation capabilities. When the external environmental system is used as the adjustment variable, the results show that an excellent digital finance development, marketization degree, and government environmental management can effectively and positively regulate the effect of financial development and technological innovation.

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Section: Theoretical Mechanismmentioning

confidence: 99%

How does financial development environment affect regional innovation capabilities? New perspectives from digital finance and institutional quality

Lu¹,

Dagestani²

2023

JIE

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“…In the case of investment in Islamic Sukuk such as Hajj Fund, having knowledge on such Sukuk, like knowing the procedures and benefits of the investment in these funds, seems to be crucial to making Muslim people more likely to invest in these Sukuk (Bin-Nashwan and Muneeza, 2021). Moreover, Amin et al (2022) revealed that knowledge plays a vital role in shaping individuals attitudes toward Islamic Sukuk. In addition, Karina and Pujiningsih (2023) argued that knowledge contributes to raising the level of investment in Islamic sukuk in Islamic countries worldwide.…”

Section: Literaturementioning

confidence: 99%

Marketing halal investment in Jordan: an investigation of Muslims’ behavioral intention to invest in Hajj fund sukuk

Almrafee

2024

JIMA

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Purpose This study aims to examine the effect of several factors on Muslims' intentions to invest in the Hajj fund Sukuk, Jordan. The study's hypothesis and model were derived from previous studies. Design/methodology/approach The present study was undertaken based on a self-administered questionnaire of 356 Jordanians who are Muslims and non-investors in Hajj Fund Sukuk. The sample was selected using a purposive sampling method. The data were analyzed using Smart-PLS version 4. Findings The results indicated that social influence, knowledge, religion and return on investment significantly affect the purchase intention of Jordanian Muslims to invest in Hajj Fund Sukuk. Research limitations/implications There are some limitations to this study. First, the study was done in Jordan; thus, additional research might be conducted in other parts of the Islamic world to learn more about the perception of investing in Islamic Sukuk, particularly Hajj Sukuk. Second, while the present study used a quantitative research technique to achieve its purpose, it would be advantageous if the researchers used more qualitative techniques, such as interviews or focus groups, in the future to explore additional factors that may impact Muslims' intent to invest in Hajj Fund Sukuk. Practical implications The findings of the current study could help practitioners in the Islamic sukuk industry by identifying the key factors that encourage Muslims to invest in Hajj sukuk. They may use the results of this study in the formulation of marketing policies and the development of marketing strategies to persuade more investors to invest their money in these sukuk. Originality/value To the best of the author’s knowledge, this is the first study carried out to better understand the main factors that may influence Muslims to invest in Hajj Sukuk in the Jordanian context. Hence, this study contributes to increasing the body of knowledge in the area of Islamic marketing in general and in the field of Islamic sukuk investment specifically.

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“…We add to the body of literature in two different ways. Initially, motivated by earlier research examining the Impact of behavioural finance factors on investment decisions (Abdeldayem and Aldulaimi, 2020a, 2020b; Almansour, 2017, 2020; Amin et al , 2022), we look at how the behavioural finance factors affect investment decisions of the Gulf Cooperation Council (GCC) cryptocurrency market. To extend most of these studies, we use a regime-switching model that accounts for two different market states.…”

Section: Introductionmentioning

confidence: 99%

“…We add to the body of literature in two different ways. Initially, motivated by earlier research examining the Impact of behavioural finance factors on investment decisions Aldulaimi, 2020a, 2020b;Almansour, 2017Almansour, , 2020Amin et al, 2022), we look at how the behavioural finance factors affect investment decisions of the Gulf IJOA 32,6…”

Section: Introductionmentioning

confidence: 99%

Investment decisions determinants in the GCC cryptocurrency market: a behavioural finance perspective

Abdeldayem

Aldulaimi

2023

IJOA

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Purpose This study aims to investigate the impact of financial and behavioural factors on investment decisions in the cryptocurrency market within the Gulf Cooperation Council (GCC). Design/methodology/approach The study uses the cross-sectional absolute deviation methodology developed by Chang et al. (2000) to determine the existence of herding behaviour during extreme conditions in the cryptocurrency market of four GCC countries: Bahrain, Saudi Arabia, Kuwait and UAE. In addition, a questionnaire survey was distributed to 322 investors from the GCC cryptocurrency markets to gather data on their investment decisions. Findings The study finds that the herding theory, prospect theory and heuristics theory account for 16.5% of the variance in investors' choices in the GCC cryptocurrency market. The regression analysis results show no multicollinearity problems, and a high F-statistic indicates the general model's acceptability in the results. Practical implications The study's findings suggest that behavioural and financial factors play a significant role in investors' choices in the GCC cryptocurrency market. The study's results can be used by investors to better understand the impact of these factors on their investment decisions and to develop more effective investment strategies. In addition, the study's findings can be used by policymakers to develop regulations that consider the impact of behavioural and financial factors on the GCC cryptocurrency market. Originality/value This study adds to the body of literature in two different ways. Initially, motivated by earlier research examining the impact of behaviour finance factors on investment decisions, the authors look at how the behaviour finance factors affect investment decisions of the GCC cryptocurrency market. To extend most of these studies, this study uses a regime-switching model that accounts for two different market states. Second, by considering the recent crisis and more recent periods involving more cryptocurrencies, the authors have contributed to several studies examining the impact of behavioural financial factors on investment decisions in cryptocurrency markets. In fact, very few studies have examined the impact of behavioural finance on cryptocurrency markets. Therefore, to the best of the authors’ knowledge, this study is the first of its kind to investigate how behavioural finance factors influence investment decisions in the GCC cryptocurrency market. This allows to better illuminate the factors driving herd behaviour in the GCC cryptocurrency market.

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Quantifying the connectedness and portfolio implications between Islamic and conventional bonds: Evidence from global and GCC regions

Cited by 3 publications

References 62 publications

How does financial development environment affect regional innovation capabilities? New perspectives from digital finance and institutional quality

How does financial development environment affect regional innovation capabilities? New perspectives from digital finance and institutional quality

Marketing halal investment in Jordan: an investigation of Muslims’ behavioral intention to invest in Hajj fund sukuk

Investment decisions determinants in the GCC cryptocurrency market: a behavioural finance perspective

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