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...

This study is conducted to test the impact of two fundamental values (FCF & EPS), depicted through financial reports, on security prices. Sample includes all nonfinancial firms listed in KSE-30 Index and covers 9 years period 2000-08. Valuation of securities done through discounting of free cash...

Purpose: This study aims to understand and document the impact of market-based – market returns and momentum – as well as firm-specific – size, book-to-market (B/M) ratio, price-to-earnings ratio (PER) and cash flow (CF) – factors on pricing ofShari’ah-compliant securities as...

Islamic finance is a relatively new business segment, however, shown promising results so far. In addition to banking services, Islamic finance has started penetrating in other sectors including capital market and insurance. This study is conducted to evaluate a newly emerging Takaful sector in...

In this paper, the vacancy generation at (1 1 1) surface of silver (Ag) and the adsorption of copper (Cu) atom in the vacant site at Ag(1 1 1) surface has been studied using molecular dynamics (MD) simulation technique. The run of micro-canonical constant energy (NVE) ensemble results the...

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...

A speedy emerging area of finance is the Shari'a compliant financial system. In first decade of 21st century Islamic financing has shown tremendous increase and global volume has reached to US $ 1,041 billion by the end of 2009. Being financial intermediaries Islamic Financial Institutions...

Purpose This study aims to develop a Sharīʿah-compliance rating mechanism for the Islamic financial services industry (IFSI), with a special focus on banking. The banking sector is taken as the area of focus due to its leadership role in the volume of global Sharīʿah-compliant assets....