Speculative activities, efficiency and normative stock exchange
Author
Source
Journal of King Abdulaziz University : Islamic Economics
Issue
Vol. 13, Issue 1 (31 Dec. 2001), pp.31-49, 19 p.
Publisher
King Abdulaziz University Scientific Publishing Center
Publication Date
2001-12-31
Country of Publication
Saudi Arabia
No. of Pages
19
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Banks
- Islamic jurisprudence
- Foundations of Islamic jurisprudence
- Islam
- Markets
- Prices
- Investments
- Financial markets
- Speculation
- Perillous saale
- Religious aspects
- Banking
- Islamic Banks
Abstract EN
This study reviews Tag el-Din’s (1996) paper and raises the possibilities that his organizational models may create other kinds of inefficiency.
Furthermore, using Canadian stock data we extended his study and found that excess speculative activities (bubbles) do not add any information to the stock markets.
Consequently, according to our empirical evidence, in light of Tag el-Din’s view, to achieve an efficient and stable stock market, a highly regulatory normative stock exchange is needed.
In this regard this study proposes that the central bank and the government ensure that the investors in the stock markets have comprehensive knowledge of the stock market mechanism.
Furthermore, the study proposes that government levies a tax on short-term horizon investment returns.
American Psychological Association (APA)
Kia, Amir. 2001. Speculative activities, efficiency and normative stock exchange. Journal of King Abdulaziz University : Islamic Economics،Vol. 13, no. 1, pp.31-49.
https://search.emarefa.net/detail/BIM-370831
Modern Language Association (MLA)
Kia, Amir. Speculative activities, efficiency and normative stock exchange. Journal of King Abdulaziz University : Islamic Economics Vol. 13, no. 1 (Dec. 2001), pp.31-49.
https://search.emarefa.net/detail/BIM-370831
American Medical Association (AMA)
Kia, Amir. Speculative activities, efficiency and normative stock exchange. Journal of King Abdulaziz University : Islamic Economics. 2001. Vol. 13, no. 1, pp.31-49.
https://search.emarefa.net/detail/BIM-370831
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 48-49
Record ID
BIM-370831