Imam Sadiq University "Islamic Finance Research" (IFR) 2251-8290 6 1 2016 10 22 Testing the Investors Herding Behavior of Ijarah Sukuk in Iran Testing the Investors Herding Behavior of Ijarah Sukuk in Iran 143 170 1921 10.30497/ifr.2016.1921 FA Mahdi Fadaee Assistant Professor, Department of Economics, Payame Noor University Zahra Takbiri Graduate of Master of Financial Management, Islamic Azad University, Isfahan Branch (Khorasgan) Journal Article 2016 07 21 A survey of investors' behavior in financial markets has always been one of the substantial topics for monetary and fiscal policymakers. The adoption of new financial instruments in the capital market in Iran has necessitated this more than before. The aim of this study was to test the herding behavior of investors in the application of Islamic securities (sukuk) in the capital market during the period 1390 to 1394 in Iran. This was performed by using Yao et al model and correlation and regression analysis method in 22 companies which issued Ijarah sukuk. The results of testing the herding behavior in the lease sukuk (Ijarah) in Iran's secondary market during the period under review show that herding behavior among investors in Ijarah sukuk is not verified. Also, the results have shown that investors in this market have not shown herding behavior in periods of stress.These results suggest the relative stability of returns on investment in the Ijarah Sukuk market in Iran. A survey of investors' behavior in financial markets has always been one of the substantial topics for monetary and fiscal policymakers. The adoption of new financial instruments in the capital market in Iran has necessitated this more than before. The aim of this study was to test the herding behavior of investors in the application of Islamic securities (sukuk) in the capital market during the period 1390 to 1394 in Iran. This was performed by using Yao et al model and correlation and regression analysis method in 22 companies which issued Ijarah sukuk. The results of testing the herding behavior in the lease sukuk (Ijarah) in Iran's secondary market during the period under review show that herding behavior among investors in Ijarah sukuk is not verified. Also, the results have shown that investors in this market have not shown herding behavior in periods of stress.These results suggest the relative stability of returns on investment in the Ijarah Sukuk market in Iran. https://ifr.isu.ac.ir/article_1921_9f6992966d4c363ea0162a056cb45fe5.pdf