Abstract
The purpose of this paper is to investigate the performance of ethical and conventional investments. It examines also whether socially responsible and Islamic investments offer an additional opportunity for domestic investors to diversify their portfolios. Empirical results show that ethical investment ethical investment has inferior performance compared with their unscreened benchmarks. Moreover, using cointegration analysis, empirical results show the absence of long-run relationship between Islamic and conventional indices which offer new potential for portfolio diversification in local markets. However, there exist a long-run relationship between SR indices and their conventional counterparts. In the other hand, cointegration tests show that Islamic and socially responsible indices have long-run relationship only for FTSE indices.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
