...Allah Karam Salehi; Elham Soleimanizadeh Purpose The abnormality of the month-of-the-year and Ramadan effects has extensively existed in the stock and other markets. The commercial strategy pattern and the computation of such predictable patterns in the market allow investors to make money...

... of Ramadan effect on the returns and volatility of the Shariah index in India. Design/methodology/approach Using the ordinary least square methods, this paper examines the impact of Ramadan effect on the returns of the Shariah index in India. This paper further investigates the impact of the holy month...

... for the period of 4 March 2003-30 September 2016 (1 Muharram 1424 – 28 Dhu al-Hijja 1437) in the study. These data are analyzed by using the dummy variable regression model and Kruskal–Wallis (KW) test. Findings The results of the regression models and KW test indicate that there is a Ramadan effect...