Author/Authors :
AKTAŞ, Hüseyin Celal Bayar Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İşletme Bölümü, Turkey , KAYALIDERE, Koray Celal Bayar Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İşletme Bölümü, Turkey , KARĞIN, Mahmut Celal Bayar Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İşletme Bölümü, Turkey
Title Of Article :
A PERFORMANCE ANALSIS OF FAITH-BASED INDICES IN EUROPEAN STOCK EXCHANGES
Abstract :
Ethical and social values are two important factors of economical and financial areas. It has been expressed in many studies that information containing ethical issues related with a company affects the value of that company positively or negatively by 0.5% to 3%. Financial world offers faith-based or ethics-based indices to the investors who invest based on ethical and social values or faith and forming exchange traded funds is predicated on these indices. In this study, monthly and quarterly returns and risks of STOXX Europe Islamic Index (SXISBR) and STOXX Europe Christian Index (SXCHR) have been analyzed comparatively taking STOXX Europe 600 Index as the reference for the period June 2005-May 2012. Findings of the study demonstrate that systematic risk of SXISBR Index is lower, it has positive returns and produces better performance compared to SXCHR Index.
NaturalLanguageKeyword :
Faith based investments , STOXX Europe Islamic Index , STOXX Europe Christian Index , STOXX Europe 600 Index
JournalTitle :
Celal Bayar University Journal Of Social Sciences
