Abstract:Purpose
This study aims to investigate the determinants of Islamic stock returns listed on Jakarta Islamic Index (Indonesia) between 2008 and 2018.
Design/methodology/approach
This study uses a quantile bounded autoregressive distributed lag (QBARDL) model to uncover relevant relationships.
Findings
This study finds that the Dow Jones Islamic Market Index, gold returns, world oil prices and exchange rates are the determinants of the Indonesia’s Islamic stock returns. However, the relationship is time varyi… Show more
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