Performance of Islamic and conventional stock indices: empirical evidence from an emerging economy

Financial Innovation

Table 2 CAPM Regression (t-values in parenthesis)

Index Name	Alpha	Beta	R²
Conventional index (KSE-100)	0.04325 (0.0325)**	0.9837 (0.0000)*	0.89
Islamic Index (KMI-30)	0.03911 (0.1321)	0.9235 (0.0000)*	0.82

Note: *Significant at 1 % level; **Significant at 5 % level; ***Significant at 10 % level