أثر الضرائب الحكومية على أداء بورصة عمان : نموذج الانحدار الذاتي لفترات الإبطاء الموزعة (ARDL)‎

الملخص EN

This study aims at investigating the impact of taxes on the performance of Amman Stock Exchange represented by the stock price index, volume of trade, and turnover ratio during the period (1980-2012).

Several diagnostic tests have been utilized such as Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) tests for stationarity.

The results show that the variables are not stationary in their levels whereas their first differences are stationary.

CUSUM test was applied for checking the stability of the model parameters, and the autoregressive distributed lag (ARDL) bounds testing approach was applied for the cointegration test, and Granger Causality test.

The results show that taxes have a negative impact.

Moreover, the results reveal the existence of a long-run causal relationship among the variables.

Based on the obtained results, the study recommends stimulating performance of Amman Stock Exchange through reducing texes and offering a package of tax incentives.

In addition, taking into consideration the importance of developing Amman Stock Exchange policies, as well as attracting more domestic and foreign direct investment in the Amman Stock Exchange