.../methodology/approach – The paper assesses the benefits of diversification by analyzing the extent of co-integration among four regional Islamic funds and by estimating the short-term and long-term structural dynamics of and among these funds. The paper uses an Autoregressive-Distributed Lag (ARDL) approach...

... to the literature on the information transmission mechanism for dually‐listed securities. Originality/value The paper uses the co‐integration tests and the error correction model (ECM) to test the long‐run relationship between returns on domestic exchange trade funds (ETFs) and the returns on the underlying...