A Study of Performance of the KLSE Syariah Index

Pengarang

  • Zamri Ahmad School of Management Universiti Sains Malaysia, Malaysia
  • Haslindar Ibrahim School of Management Universiti Sains Malaysia, Malaysia

DOI:

https://doi.org/10.32890/mmj2002.6.3

Abstrak

This study compares the performance of the Syariah Index (SI) and the Composite Index (CI) of the Kuala Lumpur Stock Exchange (KLSE) during the period April 1 999 to January 2002, Both the raw and risk-adjusted returns were calculated for the indices for the whole and two sub-periods. Results based on the raw returns revealed that generally, the KLSE SI and CI recorded the same level of returns. Tests using performance measures of Adjusted Sharpe Index, Treynor Index and Adjusted Jensen Alpha revealed that there were also no significant difference in the (risk-adjusted) performance of both indices. We therefore conclude that Syariah-approved stocks were not more favourable than the other stocks in the KLSE.

 

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Diterbitkan

2002-12-01

Terbitan

Jil. 6 No. 1&2 (2002): Malaysian Management Journal (MMJ) Vol. 6 No. 1&2 June/December 2002

Bahagian

Articles

Cara Memetik

Ahmad, Z., & Ibrahim, H. (2002). A Study of Performance of the KLSE Syariah Index. Malaysian Management Journal, 6(1&2), 25-34. https://doi.org/10.32890/mmj2002.6.3

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