Template-Type: ReDIF-Article 1.0 
Author-Name: Norhidayah Abu Bakar
Author-Name: Nik Hazimi Mohammed Foziah
Author-Email:  hidayahabubakar@unisza.edu.my
Author-Workplace-Name:  Faculty of Business and Management, Universiti Sultan Zainal Abidin, Malaysia
Title: The Impact of Cryptocurrency Volatility Dynamics on the Islamic Equity Market - The Case of Emerging Asia
Abstract:  This paper investigates the impact of the realized volatility of positive and negative intraday Bitcoin returns on the sensitivity of Shariah-compliant stocks’ orthogonalized returns. We identify the impact in different market states and find that Bitcoin’s upside volatility negatively affects the returns of Islamic equities. The paper contributes to uncovering the properties of a niche Islamic Emerging Asian equity market. The findings offer important implications for investors’ diversification strategies.
Classification-JEL:  G11 ,G15, F21
Keywords:  Sharia-compliant stock markets, Bitcoin, Realized volatility
Journal:  Asian Economics Letters
Pages: 1-5
Volume: 5
Issue: 2
Year:  2024
DOI:  2024/06/28
File-URL:  https://a-e-l.scholasticahq.com/api/v1/articles/70285-the-impact-of-cryptocurrency-volatility-dynamics-on-the-islamic-equity-market-the-case-of-emerging-asia.pdf
File-Format:  Application/pdf
Handle:  RePEc:ayb:jrnael:95