Białkowski, Jędrzej; Etebari, Ahmad; Wisniewski, … - In: Journal of Banking & Finance 36 (2012) 3, pp. 835-845
Observed by more than 1.5 billion Muslims, Ramadan is one of the most celebrated religious traditions in the world. We investigate stock returns during Ramadan for 14 predominantly Muslim countries over the years 1989–2007. The results show that stock returns during Ramadan are significantly...