Testing the weak form state of market efficiency : an empirical evidence of Shariah compliant index
Joint Authors
al-Hasan, Naveed
Ahmad, Hafiz Zafar
Source
Journal of Islamic Business and Management
Issue
Vol. 10, Issue 2 (31 Dec. 2020), pp.418-435, 18 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2020-12-31
Country of Publication
Pakistan
No. of Pages
18
Main Subjects
Abstract EN
The Efficient Market Hypothesis (EMH) proposed by Fama is considered a central premise to explain market functioning.
Current research tests the stock returns behaviour of Shar¯ı‘ah-compliant Karachi Stock Exchange Meezan Index (KMI 30) under weak form efficiency.
Based on the nature of data, i.e.
time series, both linear and non-linear techniques are employed to assess market efficiency.
The study results portray that KMI-30 is an inefficient market, and there is dependence in the series.
KAUJIE Classification: L24, L4, L31, V12 JEL Classification: C1, G21, G24
American Psychological Association (APA)
al-Hasan, Naveed& Ahmad, Hafiz Zafar. 2020. Testing the weak form state of market efficiency : an empirical evidence of Shariah compliant index. Journal of Islamic Business and Management،Vol. 10, no. 2, pp.418-435.
https://search.emarefa.net/detail/BIM-1429392
Modern Language Association (MLA)
al-Hasan, Naveed& Ahmad, Hafiz Zafar. Testing the weak form state of market efficiency : an empirical evidence of Shariah compliant index. Journal of Islamic Business and Management Vol. 10, no. 2 (2020), pp.418-435.
https://search.emarefa.net/detail/BIM-1429392
American Medical Association (AMA)
al-Hasan, Naveed& Ahmad, Hafiz Zafar. Testing the weak form state of market efficiency : an empirical evidence of Shariah compliant index. Journal of Islamic Business and Management. 2020. Vol. 10, no. 2, pp.418-435.
https://search.emarefa.net/detail/BIM-1429392
Data Type
Journal Articles
Language
English
Notes
Includes margin notes.
Record ID
BIM-1429392
