from Jakarta Islamic Index to The Regional Islamic
Market and Global Islamic Market
Eka Siskawati
Accounting Department, Polytechnic State of Padang
Kampus Unand. Limau Manis, Padang, Indonesia
Tel.:+62 751 72590, E-mail: ekasiskawati@yahoo.co.id
Proceeding of the International Conference on Social Science, Economics and Art 2011
Hotel Equatorial Bangi-Putrajaya, Malaysia, 14 - 15 January 2011
(source)
Conclusively, these empirical results provide evidence that there is long run equilibrium between Jakarta Islamic capital market to Kuala Lumpur Syariah market and Dow Jones Islamic market, which implies there is no benefit for investor who seek the syariah line investment to diversified its international portfolio in these market during the observation period. However, the existence of cointegration among these markets still provide the chances of arbitrage profits in portfolio diversification in the short term.
Source : http://icssea.ppiukm.org/paper/ECO-75.pdf
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