Can gold be used as a hedge against the risks of Sharia-compliant securities? Application for Islamic portfolio management

In this paper, we investigate whether gold hedges Sharia-compliant stocks and Sukuk during the period from September 2005 to October 2017. The inference is taken by using both the DCC-GARCH model and the wavelet coherence analysis. On the whole, our finding suggests that gold is not effective in hedging the fluctuations of Sharia-compliant securities. However, we find that combining gold with stocks (and Sukuk) is useful in diversification and portfolio optimization. These results imply that, while gold is an excellent hedge for plain vanilla securities, it is not for Islamic exposures. This is important in light of the increasing amount of assets that are managed according to Islamic screening

Perceived risk of infection and death from COVID-19 among community members of low- and middle-income countries: A cross-sectional study [version 1; peer review: awaiting peer review]

Background: Risk perceptions of coronavirus disease 2019 (COVID-19) are considered important as they impact community health behaviors. The aim of this study was to determine the perceived risk of infection and death due to COVID-19 and to assess the factors associated with such risk perceptions among community members in low- and middle-income countries (LMICs) in Africa, Asia, and South America. Methods: An online cross-sectional study was conducted in 10 LMICs in Africa, Asia, and South America from February to May 2021. A questionnaire was utilized to assess the perceived risk of infection and death from COVID-19 and its plausible determinants. A logistic regression model was used to identify the factors associated with such risk perceptions. Results: A total of 1,646 responses were included in the analysis of the perceived risk of becoming infected and dying from COVID-19. Our data suggested that 36.4% of participants had a high perceived risk of COVID-19 infection, while only 22.4% had a perceived risk of dying from COVID-19. Being a woman, working in healthcare-related sectors, contracting pulmonary disease, knowing people in the immediate social environment who are or have been infected with COVID-19, as well as seeing or reading about individuals infected with COVID-19 on social media or TV were all associated with a higher perceived risk of becoming infected with COVID-19. In addition, being a woman, elderly, having heart disease and pulmonary disease, knowing people in the immediate social environment who are or have been infected with COVID-19, and seeing or reading about individuals infected with COVID-19 on social media or TV had a higher perceived risk of dying from COVID-19. Conclusions: The perceived risk of infection and death due to COVID-19 are relatively low among respondents; this suggests the need to conduct health campaigns to disseminate knowledge and information on the ongoing pandemic

A definition of habit for socio-economics

The paper argues that it is a mistake to define habit as behaviour or action; as a regular conjunction of actions; as a stock; as a form of automaticity (although habit is acquired and activated automatically); as a tendency, propensity or disposition (even though habit acts tendentially); as a mechanism; and as a process (even though habit is acquired and activated via several processes). A taxonomic definition is provided wherein habit is a cognitive representation of a cue-action response

L’effet tampon du jeûne du Ramadan sur l’intensité des émotions: une étude pilote

The present study attempted to examine how Ramadan fasting could influence positive and negative feelings in healthy Muslims. Ninety-one Muslim fasters (48 women; mean age, 28.6±6.2 years) voluntarily completed an on-line inquiry one time a week during eight weeks: before (2 weeks), during (4 weeks), and after (2 weeks) the month of Ramadan 2013 at a specific time-slot that corresponded to the middle of the day, depending on the country in which the participants lived. Results showed that, relative to the period of outside Ramadan, the period of Ramadan fasting was associated with lower levels of positive affect (5.38±1.06 vs. 5.87±1.22, p=0.000), negative affect (2.78±1.31 vs. 2.95±1.35, p=0.057), and depression (2.36±1.31 vs. 2.64±1.46, p=0.004). However, anxiety (4.06±2.00 vs. 4.09±1.79, p=0.843) and wellbeing (6.23±1.36 vs. 6.25±1.47, p=0.804) were not influenced by Ramadan fasting. This study suggests that Ramadan fasting would act as a buffer against the intensity of emotions. © 2019, Maison du Medicine. All rights reserved.Scopu

Rapid weight loss in the context of Ramadan observance: Recommendations for judokas

Judo is a weight-classified combat sport, and many athletes seek to compete at the lightest possible weight category to gain an advantage from competing against shorter/smaller, and supposedly weaker opponents. To achieve a desired weight, most judokas opt for rapid weight loss techniques. Short-duration maximal efforts are not greatly affected by "making weight", but prolonged and/or repeated exercise is significantly impaired. Negative effects on mood, ratings of perceived exertion, and cognitive function are also reported. Moreover, rapid weight loss reduces maximal cardiac output and glycogen stores, and impairs thermo-regulation. Limited empirical data suggest that Ramadan reduces judokas' performance, and this is likely to be exacerbated by attempts at rapid weight loss. Weight reduction during Ramadan tends to be counterproductive, and judokas who aim for a lower weight category are advised to attempt any desired reduction of body mass during the weeks leading up to Ramadan, rather than during the holy month.Scopu