اختبار كفاءة سوق فلسطين للأوراق المالية على المستوى الضعيف

Abstract EN

This study aims at testing the weak form efficiency for Palestine Stock Market, using daily returns (observed and corrected for infrequent (thin) trading) for Al- Quds Index over the period 1997 - 2008, and five represented sectors indexes over the period 2006 - 2008.By applying four tests, namely: Auto correlation, Runs, Unit Root, and Variance Ratio tests, the empirical results, in general, rejected the null hypothesis of weak form market efficiency for the market, due to its inherent characteristics, such as low liquidity and infrequent (thin) trading.These results are not different from the results of the studies which have been conducted in most of the newly formed markets.