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Monday, 25 November 2013

Research Seminar Series, 6 December 2013

 Research Seminar Series

 

“Long run asymmetric relationships between the Dow Jones Index and the Islamic Dow Jones Index”

 

Dr. Christos Alexakis, Associate Professor in the Department of Economics, University of Piraeus, Greece.

 

Friday, December 6, 2013,

Time: 16:00-17:00

International Hellenic University, Lecture Room A4

 

The School of Economics, Business Administration and Legal Studies of the International Hellenic University (IHU) would like to invite you to the next presentation in the Research Seminar Series. Dr. Christos Alexakis, Associate Professor in the Department of Economics, University of Piraus, Greece will present the topic of “Long run asymmetric relationships between the Dow Jones Index and the Islamic Dow Jones Index”.

The purpose of the Research Seminar Series is to bring together the academic and business community by presenting contemporary research topics in Finance, Business, Marketing, Accounting and Economics, among others. Through these seminars, as an international centre of knowledge, innovation and research, at the crossroads of Southern Europe, the IHU attempts to further strengthen its strategic role in academic excellence. Drawing on the experience of outstanding Greek and international academics, working papers are presented on a regular basis, with the aim of establishing a meeting point for active researchers.

 

Speaker information:

Christos Alexakis was born in 1965 in Piraeus, Greece. He is Associate Professor in the Department of Economics at the University of Piraeus, Greece. He has taught in the Universities of York, Leeds, Bradford and the University of Athens. Apart from his academic experience Christos Alexakis has extensive professional experience in the financial markets, since he has been executive manager in companies in the financial sector. He has written a number of scientific papers published in high quality referred academic journals, as well as several books related to finance.

 

Presentation at a glance:

The financial sector, which operates according to the Sharia law and is commonly referred to as Islamic Finance has undoubtedly been growing at an impressive pace during the past years. This can be attributed to several factors including the increased Muslim sensibilities due to global geopolitical events, the appeal of the social and ethical aspects of Islamic Finance, as well as the efforts of multinational banks to diversify and create new ways to capture “dormant” funds and acquire new customers. Conventional investment products and financing methods, even relatively recent innovations such as derivative instruments and hedge tools, are so widespread and increasingly abundant, that, if one cannot talk of saturation of the public, there is certainly a humdrum feeling about it. Original ideas of Islamic banking, presented under a new marketing angle, have captured the interest of bankers and general public alike.

In our research, we test the long run relationship between the Dow Jones Index and the Islamic Dow Jones Index. In our analysis we used cointegration theory and especially hidden cointegration. Our findings have shown that the Islamic Index outperformed the regular Dow Jones Index. Additionally, we obtained statistical evidence that the Dow Islamic Index directs the Regular Dow Index. This is primarily because the assets of the Islamic Index are safer asset classes or companies; a “flight to quality” since these companies are less leveraged and less speculative.

 

Information:
Dr Vassiliki Grougiou
Tel.: +30 2310 807540
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
This email address is being protected from spambots. You need JavaScript enabled to view it.

Address:
14th Thessaloniki-N.Moudania Road, Thermi junction, Thessaloniki

Additional Info

  • Event date: Friday, 06 December 2013
  • Event time: 16:00
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