Islamic Calendar Anomalies Reshaping Investor Behavior
A Qualitative Study
Bibliographic Data
| ID | 6156358 |
|---|---|
| Authors | Sajid Iqbal (0000-0001-7729-8464, Superior University), Nadeem Iqbal (0000-0002-0602-8333, Ghazi University), Arshad Muneer (University of Gujrat) |
| Year | 2019 |
| Volume | 09 |
| Issue | 02 |
| Pages | 212-232 |
| Publication date | 2019-12-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Islamic Thought and Civilization (JOURNAL) |
| Journal identifiers | ISSN: 2075-0943 • E-ISSN: 2520-0313 |
| Publisher | University of Management and Technology (PUBLISHER • PK) |
| DOI | 10.32350/jitc.92.11 |
| OpenAlex | W3005325617 |
| Language | EN |
| References cited | 2 |
nThe objective of this study is to explore how investors execute decisions in persistence of Islamic anomalies in context of Pakistan stock exchange. Applying interpretive approach, data was acquired from PSX investor by asking a series of questions through an interview protocol. Interviews were conducted by using semi-structured interview approach. The responses were explored using NVivo 10.0 plus software. The results of the study indicated Islamic anomalies are changing emotions and perceptions of investors due to their past experience and perceived market consequences, and biased behaviors. Due to Islamic anomalies investors decisions are found to be biased and depict a self-serving, anchoring and overconfident behavior. Moreover, various conventional market factors (e.g. market capitalization, price earning and capita market line fluctuation etc.) are constant and reshaping investor decisions. Promotion of corporate culture, controlling mispricing, conducting awareness/ training sessions on rationality, capital gain than price gain is seriously required in local context. This is the first qualitative study investigating Islamic Calendar anomalies and PSX investors, leading to the formulation of sound policy implications.\n
Business · Capital market · Context (archaeology · Economics · Financial economics · Islam · Monetary economics · Political science · Qualitative research · Rationality · Sociology · Stock exchange · Financial Markets and Investment Strategies · Islamic Finance and Banking Studies · Law · Stock Market Forecasting Methods · Accounting · Finance
| Highly cited | No |
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