... investigations in the USA such as Stavroyiannis and Babalos (2017) show evidence of anti-herding behaviour within the Dow Jones Islamic indices, suggesting that return performances of samples of SC US firms should be consistently distinct from the conventional sample, especially during times of crisis...

... US firms The first glaring observation is the fact that all stocks in the financials sector are completely excluded from the SC samples due to the financials sector being automatically screened out by the Shariah qualitative screens;[ 4 ] this may have a negative impact on portfolio...