The impact of religious announcements on stock prices and investment decisions on the Saudi stock exchange

Alshammari, Turki Rashed; Ory, Jean‐Noël

doi:10.1016/j.bir.2023.05.002

Cited by 2 publications

(2 citation statements)

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“…Some studies describe that imams' or religious announcements and religious events may impact stock prices, and these factors may influence investor behavior. However, some research suggests that investors' financial decisions, including those of individual investors, may be influenced by subjective knowledge and opinions (Alshammari & Ory, 2023;Klein et al, 2017). Several considerations, including religious events, influence investor decisions.…”

Section: Religious Eventsmentioning

confidence: 99%

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Factors of Investor Behavior in Sharia Stock: A Theory of Planned Behavior Perspective

Priantinah,

Dewanti,

Novitasari

et al. 2023

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This study aims to investigate the impact of attitude factors on behavior through investor intentions, subjective norms, behavior, religiosity, religious events, behavioral control, and profit maximization. These factors were analyzed for their influence on investment behavior in Islamic stocks mediated by investor intentions. This research is a type of quantitative research using primary data. The data collection is carried out on respondents with stock accounts for transactions. This research included 42 participants who are investors actively engaged in trading stocks on the Indonesia Stock Exchange and possess a stock account. The selection of investor respondents is expected to reflect accurate decisions in the investment decision-making process. Data was obtained through a research instrument in the form of a questionnaire designed to accommodate the variables to be studied—data analysis using PLS with Structural Equation Analysis (SEM). The results show that subjective norms, religious factors, religious holidays, and profit maximization separately influence investor behavior through investor intentions. Also, this study found that personal criteria do not affect investor intentions, and behavioral control influences investor behavior. This study contributes theoretical implications to augment the literature on investor behavior in Shariah-compliant stocks. Furthermore, it provides practical implications as insights to aid investors in making decisions regarding Sharia-compliant stocks

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Section: Religious Eventsmentioning

confidence: 99%

“…Profit is the desired outcome to promote economic growth and improve the welfare of society. Profit maximization is seen to be incompatible with Islam's concern for societal welfare and moral conduct (Alshammari & Ory, 2023).…”

Section: Profit Maximizationmentioning

confidence: 99%