Billions of dollars, across 131 countries, are invested in Islamic law-compliant funds that are often promoted as consistent with the spirit and overall objectives of Islam (Maqasid Al-Sharia), thereby indicating they are more socially responsible, less risky, and less prone to failure. The...

Why do firms manage their stock price levels? Building on the catering hypothesis and institutional investor preference literature, we propose a generalized catering hypothesis that managers cater their share price level to different types of investor (individual vs institutional) in order to...