Demonstrating the value of ethically screened stocks
Research from Cardiff Business School’s Accounting & Finance section has been featured in a prestigious business journal.
Professor Khelifa Mazouz’s paper, Price Reaction of Ethically Screened Stocks: A Study of the Dow Jones Islamic Market World Index, was accepted for publication by the Journal of Business Ethics and appears in the latest issue.
The Journal of Business Ethics is one of the Financial Times Top 50 journals used in compiling its institutional research rankings.
The paper which looks at announcement returns linked to firms classed as ethically screened is based on a sample of 8250 ethically screened stocks of the Dow Jones Islamic Market World Index (DJIMWI) from May 1999 through June 2012. A correlation between ethical screening and enhanced value overall is established based the short-term price reactions of ethically screened stocks.
The Accounting & Finance section conducts research of considerable depth and breadth across practice areas, which is regularly published in top ranked journals.