Observed by more than 1.5 billion Muslims, Ramadan is one of the most celebrated religious rituals 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 higher...

This study reviews the effects of Ramadan, which is recognised as a notable religious ritual in the world among Muslims, on stock market behaviour. Based on the review, there is evidence that the effects of Ramadan lead to significantly higher stock market returns but less volatility. However,...

This study aims to analyze and test empirically the influence of corporate financial performance against systematic risk on stocks. The analysis technique used is multiple linear regression. The results showed that the financial performance did not significantly affect the systematic risk of the...