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Social norms and market outcomes: The effects of religious beliefs on stock markets
16 references·4 citing·34 second hop
Social norms and market outcomes: The effects of religious beliefs on stock markets (2017)Social norms and market outcomes: The eff…Econometric Analysis of Panel Data (2021)Econometric Analysis of Panel…Corporate social responsibility and stakeholder value maximization: Evidence from mergers (2013)Corporate social responsibili…The price of sin: The effects of social norms on markets (2009)The price of sin: The effects…Does religion matter in corporate decision making in America? (2009)Does religion matter in corpo…Asset pricing with liquidity risk (2005)Asset pricing with liquidity …International evidence on ethical mutual fund performance and investment style (2004)International evidence on eth…Panel Data Econometrics (2003)Panel Data EconometricsOrder imbalance, liquidity, and market returns (2002)Order imbalance, liquidity, a…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…Common factors in prices, order flows, and liquidity (2001)Common factors in prices, ord…Commonality in liquidity (2000)Commonality in liquidityLiquidity and stock returns: An alternative test (1998)Liquidity and stock returns: …Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)A Simple Model of Capital Mar…The Price Variability-Volume Relationship on Speculative Markets (1983)The Price Variability-Volume …Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Corporate ESG performance, Shariah-compliant status and cash holdings (2023)Corporate ESG performance, Sh…COVID-19 and connectedness between Sustainable and Islamic equity markets (2022)COVID-19 and connectedness be…Faith‐based versus value‐based finance: Is there any portfolio diversification benefit between responsible and Islamic finance? (2020)Faith‐based versus value‐base…The impact of religious certification on market segmentation and investor recognition (2018)The impact of religious certi…Econometric Models for Count Data with an Application to the Patents-R&D Relationship (1984)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Pooled Mean Group Estimation of Dynamic Heterogeneous Panels (1999)Econometric Analysis of Cross Section and Panel Data (2001)Introductory Econometrics for Finance (2008)Investigating Causal Relations by Econometric Models and Cross-spectral Methods (1969)Initial conditions and moment restrictions in dynamic panel data models (1998)Panel Data Models With Interactive Fixed Effects (2009)Does Algorithmic Trading Improve Liquidity? (2011)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)A five-factor asset pricing model (2014)The Framing of Decisions and the Psychology of Choice (1981)The Limits of Arbitrage (1995)The Cross‐Section of Volatility and Expected Returns (2006)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Editor's Choice Digesting Anomalies: An Investment ApproachOn Persistence in Mutual Fund Performance (1997)Liquidity Risk and Expected Stock Returns (2003)Continuous Auctions and Insider Trading (1985)Market Liquidity and Trading Activity (2001)Market liquidity as a sentiment indicator (2004)Do liquidity measures measure liquidity?☆ (2009)The Nature of the Firm (1937)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)On the Foundations of Corporate Social Responsibility (2016)Socially responsible firms (2016)Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows (2017)Liquidity and leverage (2008)Market Liquidity and Funding Liquidity (2008)Does the stock market fully value intangibles? Employee satisfaction and equity prices (2011)Do Investors Care about Carbon Risk? (2019)Sustainable investing in equilibrium (2020)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 2021Econometric Analysis of Panel Data15,089 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 1987A Simple Model of Capital Market Equilibrium with Incomplete Information5,808 cited
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  • 2009The price of sin: The effects of social norms on markets2,600 cited
  • 2003Panel Data Econometrics2,123 cited
  • 2000Commonality in liquidity1,748 cited
  • 2013Corporate social responsibility and stakeholder value maximization: Evidence from mergers1,654 cited
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  • 1998Liquidity and stock returns: An alternative test1,318 cited
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  • 2001Common factors in prices, order flows, and liquidity1,067 cited
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Order imbalance, liquidity, and market returns
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Cited by

  • 2018The impact of religious certification on market segmentation and investor recognition32 cited
  • 2022COVID-19 and connectedness between Sustainable and Islamic equity markets32 cited
  • 2023Corporate ESG performance, Shariah-compliant status and cash holdings30 cited
  • 2020Faith‐based versus value‐based finance: Is there any portfolio diversification benefit between responsible and Islamic finance?20 cited