Purpose: This study is intends to understand and document the impact of market-based — market returns and momentum — as well as firm-specific — size, book to market ratio (B/M), price to earnings ratio (PER) and cash flow (CF) — factors on pricing of Shari'a compliant securities as...

This paper examines the relationship between idiosyncratic risk and stock returns in BRICS (Brazil, Russia, India, China, and South Africa) countries by applying parametric and nonparametric approaches. It also explores the idiosyncratic risk puzzle by dividing firms into groups based on...

This study documents the asset pricing mechanism of Sharīʿah compliant securities listed on the Karachi Stock Exchange. We select the CAPM market model to test for the impact in variations of stock returns on a sample of Sharīʿah-compliant companies on ten years monthly data (2001-10). We...