Authors: Zainab Abdussalam; Bob Ryan
Addresses: Business School, University of Gloucestershire, The Park, Cheltenham GL50 2RH, UK. ' Business School, University of Gloucestershire, The Park, Cheltenham GL50 2QF, UK
Abstract: A number of different factors affect stock market development in emerging markets. This paper addresses the role of culture and religion in the development of the Libyan stock market. In particular we examine the role of trust in the efficient operation of an emerging market and the importance of culture, religion and other variables in enhancing trust between market agents. The findings of this study are that both culture and religion have an important role in Libyan stock market development. Both culture and religion are dimensions that may lead to the enhancement of trust, which itself then may lead to successful financial market development in Libya.
Keywords: religion; culture; trust; stock markets; Libya; emerging markets; financial markets; market development.
International Journal of Behavioural Accounting and Finance, 2011 Vol.2 No.3/4, pp.208 - 224
Published online: 20 Jan 2012 *Full-text access for editors Access for subscribers Purchase this article Comment on this article