Islamic Ethical Principles and Stock Market Behavior A Multidisciplinary Analysis of Sharia Compliant Investments
DOI:
https://doi.org/10.34306/al-waarits.v3i2.1263Keywords:
Islamic Ethics, Islamic Studies , Investor Behavior, Multidisciplinary Perspective, Sharia Stock MarketAbstract
This study is motivated by the increasing participation of Muslim communi- ties in the stock market, which raises various issues concerning the alignment between market behavior and Islamic ethical principles in contemporary finan- cial practices. It aims to analyze how Islamic ethical principles influence stock market behavior through a multidisciplinary Islamic studies perspective that integrates economic, sociological, legal, and political governance approaches. This study employs a qualitative descriptive approach combined with norma- tive analysis of Islamic legal sources and supported by secondary data, includ- ing sharia stock market reports, regulatory frameworks, and relevant empiri- cal studies. The findings indicate that Islamic ethical principles, such as jus- tice, transparency, profit-sharing, and the prohibition of excessive speculation, play an important role in shaping investor behavior, enhancing market stability, and strengthening confidence in regulation within sharia-compliant stock mar- kets. Furthermore, the interaction between ethical norms, law enforcement, and socio-political structures contributes to enhancing market credibility and promoting sustainable financial practices. Overall, this study concludes that in- tegrating Islamic ethical values into a multidisciplinary analytical framework provides a more comprehensive understanding of stock market behavior within the Islamic financial system. It also offerstheoretical contributions and practical implications for policymakers, regulators, and market participants in developing an ethical and socially responsible stock market.
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