Using a large international sample of 35 developed and emerging markets, we analyze whether Islamic indices exhibit a different performance to conventional benchmarks. While there is no compelling evidence of performance differences in robust Sharpe ratio tests and after controlling for market...

Recent empirical research shows that low volatility stocks outperform high volatility stocks around the world. This study documents that the volatility effect is associated with the quality of the firm using a large sample of international stocks. First, adding a quality factor to the...