اختبار المستوى الضعيف من الكفاءة لأسواق الأوراق المالية الإسلامية : دراسة حالة الأسواق الناشئة خلال الفترة 2010-2018

الملخص EN

The purpose of this study is to investigate the weak-form efficiency of the Islamic stock markets indices by testing the following hypothesis: Islamic stock market indices returns follow a random walk and hence the market is efficient.

This study is conducted by using different statistical tests, to examine the weak-form market efficiency: Unit Root test, Runs test, autocorrelation test, and Variance Ratio (VR) test.

Findings suggest that none of the Islamic stock markets studied characterized by a random walk process and hence all these markets are not the weak form of efficient market.

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