Evaluation the efficiency and effectiveness of the Iraq stock exchange : an empirical study from July 2004 to March 2008
Joint Authors
Awwad, Musa Khalaf
Ali, Ali Jiran Abd
Source
Journal of Economics and Administrative Science
Issue
Vol. 15, Issue 56 (31 Dec. 2009), pp.1-13, 13 p.
Publisher
University of Baghdad College of Administration and Economics
Publication Date
2009-12-31
Country of Publication
Iraq
No. of Pages
13
Main Subjects
Financial and Accounting Sciences
Topics
Abstract AR
تهدف هذه الدراسة لإعطاء تقييم شامل لكفاءة سوق العراق للأوراق المالية من خلال استخدام نماذج التقييم المعروفة حيث استخدم نموذج السوق الكفوءة لفاما-كمفهوم مناقض لفرضية السير العشوائي–لقياس كفاءة السوق الذي وجد أن حركته عشوائية و لا يمكن توقع أسعار الأسهم على أساس المعلومات الماضية.
فيما استخدم نموذج العوامل المتعددة و المسمى أيضا الانحدار المتعدد لاستكشاف العلاقة بين مقاييس السوق و المؤشرات الاقتصادية الرئيسية حيث أظهر التحليل التطبيقي ترابط ضعيف جدًا بين مقاييس السوق و تلك المؤشرات.
Abstract EN
The aim of this study was to provide an overall assessment to the efficiency of the Iraq stocks exchanges (ISE) through specifying well-known models.
First, Fame's efficient market hypothesis as a contrary concept to the random walk hypothesis, was performed and it has been found that ISE follows the random process, so the price of the shares can't be predicated on the basis of past information.
Second, we use a multifactor model, which so named multiple regression, to explore the link between ISE and the main economic indicators.
Our empirical analysis finds that every weak associations exists between major ISE measures and main economic indicators.
American Psychological Association (APA)
Awwad, Musa Khalaf& Ali, Ali Jiran Abd. 2009. Evaluation the efficiency and effectiveness of the Iraq stock exchange : an empirical study from July 2004 to March 2008. Journal of Economics and Administrative Science،Vol. 15, no. 56, pp.1-13.
https://search.emarefa.net/detail/BIM-334109
Modern Language Association (MLA)
Awwad, Musa Khalaf& Ali, Ali Jiran Abd. Evaluation the efficiency and effectiveness of the Iraq stock exchange : an empirical study from July 2004 to March 2008. Journal of Economics and Administrative Science Vol. 15, no. 56 (2009), pp.1-13.
https://search.emarefa.net/detail/BIM-334109
American Medical Association (AMA)
Awwad, Musa Khalaf& Ali, Ali Jiran Abd. Evaluation the efficiency and effectiveness of the Iraq stock exchange : an empirical study from July 2004 to March 2008. Journal of Economics and Administrative Science. 2009. Vol. 15, no. 56, pp.1-13.
https://search.emarefa.net/detail/BIM-334109
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 13
Record ID
BIM-334109