Fast Profits : Investor Sentiment and Stock Returns during Ramadan *

  title={Fast Profits : Investor Sentiment and Stock Returns during Ramadan *},
  author={Jedrzej Bialkowski and Ahmad Etebari and Tomasz Piotr Wisniewski},
------------------------------------------------------------------------------------------------------------------Observed by more than 1.5 billion Muslims, Ramadan is one of the most celebrated religious rituals in the world. We investigate stock returns during Ramadan for 14 predominantly Muslim countries over the years 1989-2007. The results show that stock returns during Ramadan are almost nine times higher and less volatile than during the rest of the year. No discernible difference in… CONTINUE READING

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