Bialkowski, Jedrzej; Etebari, Ahmad; Wisniewski, Tomasz … - Department of Economics and Finance, College of … - 2010
Observed by more than 1.5 billion Muslims, Ramadan is one of the most celebrated religious rituals in the world. We investigate stock returns during Ramadan for 14 predominantly Muslim countries over the years 1989-2007. The results show that stock returns during Ramadan are almost nine times...