The research undertaken aims to contribute to the debate about market efficiency and market volatility in an Islamic context. The research relates to the Amman Stock Exchange (ASE) and covers the period 1992 to 2007. It undertakes quantitative analysis involving two key elements: first, testing for random walk and calendar anomaly effects in market returns and, second, modelling volatility in market returns. The thesis applies a series of standard econometric and statistical techniques to this issue. The key ‘novel’ contributions of this study relate to the focus on Islamic religious holiday effects and also the application of behavioural finance theoretical models to explain the findings in terms of the influence of social mood (mood misattribution) effects. These are approaches that have not been previously applied in the literature within an Islamic context. The author argues that the econometric and statistical techniques applied are ‘fit for purpose’. Standard methods are applied; however, these are applied in ‘novel’ ways in parts of the thesis. For example, moving-date calendar effects are modelled for the first time and the modelling of volatility makes use of interaction effects to explore the impact of interactions between different mood-influencing variables. The study begins by identifying that the ASE index returns do not follow a Random Walk. It then goes on to identify day-of-the-week effects. First trading day of the week effects found in relation to the first trading day that follows the Muslim holy day of Friday. Monthly calendar effects were also found. January or turn-of-the-year effects were found in the ASE similar to those found previously in some Western markets. However, the largest monthly effects were found in relation to the holy month of Ramadan. Most significantly, Ramadan was found to be the only month where the average daily returns were both statistically different from the other months in the year and also positive. This, it is argued in the thesis, is due to social mood (or mood misattribution) effects. The research looks beyond informational efficiency and develops a number of ‘novel’ contributions to research in this area in terms of both the empirical findings and the behavioural finance-related interpretation of these findings, as well as the influence of Islamic ethics in Amman’s stock market returns. The thesis also examines the relationship between seven behavioural mood-proxy variables and stock market returns. Fama (1991) argues that efficiency and volatility are unrelated. In this thesis, however, evidence is uncovered which suggests that this may not be the case. High levels of volatility were found at the start and at the end of the Ramadan holy festival; this volatility, it is argued, is related to social mood. This issue is examined further by exploring previously unstudied interactions between mood-related Ramadan effects and mood-related weather and biorhythmic effects. The results of this thesis, the author believes, provide strong evidence for the existence of Muslim religion investment decision biases associated with social mood effects (mood misattribution). It is argued that these social mood effects in the case of Jordan relate mainly to Islamic ethics and cultural issues, as they are found predominantly during the Ramadan religious holiday. Despite the existence of decision biases within the ASE, no profitable trading anomaly opportunities were identified. This may be due, in part, to Jordan having high trading transaction costs. It is possible, however, that profitable trading opportunities related to Islamic holidays may exist in countries that follow stricter religious observance. The author believes that there is an opportunity to extend this research to countries such as Bahrain.

This thesis contains descriptions and definitions of the Iron Age Proto-Aeolic capitals from Israel - Palestine area. The modern area, which my materials cover is Israel and Jordan. The time period of the capitals is between the 9th century BC and the late 8th or the beginning of the 7th century BC. Attention has been put on issues of typological characteristics, usage and time periods of the capitals and how this, through the new examples, described here for the first time, created a new typology and usage for the Proto-Aeolic capitals.

The development of a methodological framework for local and institutional sustainability assessment can be helpful for planners and urban governments. The aim of this research is to develop an approach to local and institutional sustainability assessment (ALISA). It is designed to assist in the clarification, formulation, preparation, selection, and ranking of key indicators to facilitate the assessment of city sustainability at the local and institutional level in the Middle Eastern and North African (MENA) cities. The ALISA methodological framework is developed using joint documentary and analysed data in the two case studies of Benghazi and Amman. The data for this also includes focus-group discussions, semi-structured interviews, and questionnaires that reflect the approach required in order to develop a combined framework that assists the development of sustainability indicators. The initial list of proposed sustainability indicators for Benghazi contains 37 indicators. This list was developed based on logical information and procedure which has been supported by consultants and specialists in sustainability and urbanization from the University of Benghazi in the form of workshops as well as searching through the literature on sustainable development. Similarly, with support from consultants and specialists in sustainability and urbanization from the Applied science University a list of 36 indicators was also developed in Amman. Both lists were given to the local communities in Benghazi and Amman to be ranked based on priority to identify two final lists of sustainability indicators. The results indicated that economic and social indicators were highly ranked in Benghazi and Amman, respectively.

Jordan is one of the countries in the Middle East where “honour culture” is a part of the Jordanian society. “Honour culture” is often accused of leading to honour killings. While there are several studies on honour and femininity in the Middle East, there are less research done on masculinity and young men in the region. Women are often the victims and researchers tend to have the focus on them, but what about the young men who grow up in the Jordanian society? This study was conducted in Amman, Jordan, to explore how young men live and define honour. During the months of October, November, and December 2021, 12 Jordanian and Palestinian men living in Amman were interviewed, whereas most of them grew up outside the capital. The data were gathered through semi-structured interviews and observations. As a result of phenomenological analysis of the material, common themes and meanings were identified. There are two different types of honour within the Jordanian society according to my findings: Sharaf and ́ird. Sharaf is what the participants define as their manhood because it makes you a righteous man and a better person. ́ird is what the participants associate with the Jordanian society ́s view on honour and is being described as a conservative and traditional way of thinking. ́ird is what the participants are taking distance from in the interviews, but it is discussed how accurate this is. In the patriarchal Jordanian society, it seems to be sharp gender-roles where each gender has different obligations and expectations, which is created by the society and taught trough life trajectories. As honour is a controversial and sensitive topic, this study provides a nuanced and understanding of gender roles, family structures, and masculinity behind the tradition, as well as the feelings and opinions of those involved.

Journalists use the term Arab Street to describe what they often imply is a volatile Arabic public opinion. This photo story travels through four Arab areas or Jordan, Qatar, Israel/Palestine and Egypt in order to show the diversity and complexity of each. The media’s tendency to lump all Arabs into one political block is detrimental to a true sense of cultural understanding that is required for peace. / text

A valid and accurate capital asset pricing model (CAPM) may help investors and mutual funds managers in determining expected returns and thus, may increase profits which can be reflected on the community resources. The problem is that the traditional CAPM does not accurately predict the expected rate of return. A more accurate model is needed to help investors in determining the intrinsic price of the financial asset they want to sell or buy. The purpose of this study was to examine the validity of the single-factor CAPM and then develop and test the validity of a multifactor CAPM in the Jordanian stock market. The study was informed by the modern portfolio theory and specifically by the single-factor CAPM developed by Sharpe, Lintner, and Mossin. The research questions for the study examined the factors that may explain the variation in the expected rate of return on stocks in the Jordanian stock market and the relationship between the expected rate of return and factors of market return, company size, financial leverage, and operating leverage. A causal-comparative quantitative research design was employed to achieve the purpose of the study by testing the listed companies on the Amman stock exchange (ASE) for the period from 2000 to 2015. Data were collected from the ASE database and analyzed using the multiple regression model and t test. The results revealed that market return, company size, and financial leverage are not predictors of the expected rate of return while operating leverage is a predictor. The results of this study may contribute to positive social change by changing the way the individual investors and mutual funds managers select their investing portfolios which can lead to better resource distribution in the economy.

This thesis is an analytical exploration of the influence of medieval theology on contemporary scholastic traditionalist polemics within Sunni Islam. Intra-Sunni sectarian polemics as an emerging area of study is relatively untouched as opposed to sectarian violence. A detailed mapping of the theological terrain from the genesis of Sunni ‘orthodoxy’ and the perennial tensions within the classical theological tradition and how they have manifested parochially into the contemporary scholastic traditionalist trends of the Barelwi, Deobandi, Ahl-i-Ḥadīth and Wahhābī within the backdrop of the Sufi-Salafi contestation of Sunni authenticity is timely. Concern regarding growing extremism prompted Muslim Ulama, academics and political leaders to create unity initiatives such as the Amman Message and the Sunni Pledge in dealing with this problem and also delineating ‘orthodoxy’. The theological basis for these neo-credos can be explained as doctrinal ‘minimalism’. Minimalism is a growing social construction of scholastic traditionalists through which the warring factions are attempting to salvage the historical continuity with ‘orthodoxy’ and placate Sunni infighting. The thesis aims to examine the theological veracity of the minimalism project and explore its doctrinal, methodological and ethical facets. Polemicism and excommunication is the current state of affairs within Sunni theological discourse. Minimalism is deemed as the antidote to this problem.

No description available.

The present work examines the taxonomy and function of potters’ marks applied to pottery in the Amman-Zarqa region during the last phase of the Early Bronze Age, the so-called EB IV ca. 2350/2300–2000 BC. The study is anchored in a small data set gathered from 12 archaeological sites, in which 24 different mark types have been identified. These mark types - together with their associated vessel classes, circumstances of deposition, and geographical distribution - comprise the background against which previous suggestions regarding potters’ marks are evaluated. Evidence from ethno-archaeological sources concerning traditional potters’ rationales for marking vessels today is also included as part of the interpretive framework. The mode and scale of production is discussed on the basis of the ceramic evidence, the size and character of settlements located within the region, and the socio-economic setting of the EB IV period in general.

In der vorliegenden Arbeit begibt sich die Autorin auf eine einzigartige Tauchreise in das islamische Denken. Sie betrachtet die größeren Fragen des interreligiösen und kulturellen Dialogs zwischen Christentum und Islam, sowie die Grundlagen, auf denen dieser Dialog nach Vorstellungen muslimischer Religionsexperten geführt werden sollte. Der Reiseführer ist Prof. Dr. Peter Heine, deutscher Islamwissenschaftler. Um die Wende des interreligiösen und kulturellen Dialogs einzuleiten, legen die berühmtesten Gelehrten der islamischen Welt, darunter Großscheich von Al-Azhar Prof. Dr. Tantawi, der ägyptische Gelehrte und Politiker Dr. Zakzouk, Großmufti von Ägypten Dr. Ali Gomaa, Großmufti von Mauretanien Dr. Ibn Bayyah, sowie Großmufti von Syrien Dr. Hassoun, zum ersten Mal die Grundzüge eines wahrhaften, ernsten und erfolgreichen Dialogs zwischen der westlichen und islamischen Welt nieder. Die „Regensburger Rede“ des Papst Benedikt XVI im Jahr 2006, der darauffolgende offene Brief von 38 muslimischen Gelehrten an den Papst, sowie der Text der Botschaft aus Amman sind die Grundsteine zur Herstellung einer friedlichen, solidarischen Welt, in der ein offener geistiger Austausch gefördert und gegenseitiges Verständnis gefordert wird. / An unique trip into the Islamic thought. Using the ship of humanity the present work dives into the largest issues of the inter-religious and cultural dialogue between Christianity and Islam, as well as the basics on which this dialog should be conducted according to the ideas of famous Muslim religious experts. The guide is Dr. Peter Heine, the famous German Islamic scholar. For the first time, the most famous scholars of the Islamic world, including Grand Sheikh of Al-Azhar, Grand Mufti of Egypt Dr. Ali Gomaa, Dr. Zazouk, minister of higher religious organization, Grand Mufti of Mauritania Dr. Ibn Bayyah, Grand Mufti of Syria Dr. Hassoun and others draw the basic principles of a successful and honest dialogue between the Western and Islamic world in order to live in a solidaric and peaceful world to restore the turn of interreligious and intercultural dialog.