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A Review of Islamic Investment Literature
Author(s) -
Hassan M. Kabir,
Aliyu Sirajo,
Paltrinieri Andrea,
Khan Ashraf
Publication year - 2019
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/1759-3441.12230
Subject(s) - islam , islamic finance , portfolio , equity (law) , sukuk , empirical research , business , investment (military) , financial instrument , accounting , economics , finance , political science , geography , philosophy , archaeology , epistemology , politics , law
This paper reviews the empirical literature on the contemporary issues of Islamic investments and highlights the future research directions. The growing literature during the last several years and the penetration of Islamic investments beyond the Muslim majority countries motivate us to review the empirical studies in the area. We therefore focus our literature review on mutual funds, sukuk and equity investments, analysing 81 articles from the most important journals dealing with the topic. The mixed findings in this area help the understanding of professionals not familiar with Islamic investment to identify the trends of the literature for important decisions. Our results have also important financial implications for asset managers willing to include Islamic financial instruments into a well‐diversified portfolio.