المالية السلوكية في المنظور الإسلامي
Other Title(s)
Behavioural finance : an Islamic perspective
Joint Authors
بوكروشة، حليمة
بوهراوة، سعيد محمد
Source
مجلة إسرا الدولية للمالية الإسلامية
Issue
Vol. 13, Issue 2 (31 Dec. 2022), pp.3-30, 28 p.
Publisher
International Shari'ah Research Academy for Islamic Finance
Publication Date
2022-12-31
Country of Publication
Malaysia
No. of Pages
28
Main Subjects
Abstract EN
This paper discusses the issue of behavioural finance (BF) and its place in the Islamic financial system as well as the feasibility of applying the Islamic finance fundamentals to forecast the movement of Islamic securities prices.
It also explores the possibility of harmonisation between the approaches of market efficiency and behavioural finance.
The paper starts with questions about the credibility of the efficient market hypothesis (EMH) in determining the factors affecting the movement of prices in the securities market, especially after the severe financial crises that hit the financial market.
The expectations of the positivist approach, which believes that the financial market is characterized by rationality and can correct any deviations of the market value from the fair value, were not borne out.
The paper adopts the inductive approach, highlighting the most important views related to BF and EMH and their fundamentals, and also employs an analytical critical approach in analysing the two approaches.
Furthermore, it adopts a comparative approach to collate the Islamic financial approach in studying the movement of stocks with the EMH and BF approaches.
The paper concludes with a number of findings.
The most important of these is that the approaches of market efficiency and behavioural finance do not, in general, contravene the principles of Islamic finance.
Moreover, harmonisation between behavioural finance and the rational approach based on market efficiency is one of the best approaches to predict the movement of the prices of Islamic securities and is in line with the fundamentals of Islamic finance.
However, that harmonisation will remain an abstraction unless the market is regulated by Sharīʿah principles and legal rules.
American Psychological Association (APA)
بوكروشة، حليمة وبوهراوة، سعيد محمد. 2022. المالية السلوكية في المنظور الإسلامي. مجلة إسرا الدولية للمالية الإسلامية،مج. 13، ع. 2، ص ص. 3-30.
https://search.emarefa.net/detail/BIM-1441333
Modern Language Association (MLA)
بوكروشة، حليمة وبوهراوة، سعيد محمد. المالية السلوكية في المنظور الإسلامي. مجلة إسرا الدولية للمالية الإسلامية مج. 13، ع. 2 (كانون الأول 2022)، ص ص. 3-30.
https://search.emarefa.net/detail/BIM-1441333
American Medical Association (AMA)
بوكروشة، حليمة وبوهراوة، سعيد محمد. المالية السلوكية في المنظور الإسلامي. مجلة إسرا الدولية للمالية الإسلامية. 2022. مج. 13، ع. 2، ص ص. 3-30.
https://search.emarefa.net/detail/BIM-1441333
Data Type
Journal Articles
Language
Arabic
Notes
يتضمن هوامش.
Record ID
BIM-1441333