Are the Arabic financial markets efficient under the weak form ?
Author
Source
Journal of Economic Sciences Institute: Journal of Economics, Management and Trade Sciences
Issue
Vol. 2015, Issue 31 (30 Jun. 2015), pp.23-42, 20 p.
Publisher
Publication Date
2015-06-30
Country of Publication
Algeria
No. of Pages
20
Main Subjects
Economics & Business Administration (Multidisciplinary)
Abstract EN
This study examines the random walk hypothesis or exactly the predictability of stock returns to determine the validity of the weak form of the efficiency of a set of Arabs stock markets.
The efficiency of financial markets depends on the speed which the market assimilates new information.
In weak form of efficient market, the current price reflects all the information contained in the past prices.
The empirical results of this study show the non-normality of the return distributions on the Arab stock indexes selected in this study.
They also confirm the nonrandomness in their evolution, which means the rejection of the weak form of this set of market
Abstract FRE
Cette étude examine l'hypothèse de marche aléatoire ou exactement la prévisibilité des rendements boursiers pour déterminer la validité de la forme faible de l'efficience pour un ensemble de marchés boursiers arabes.
L'efficience des marchés financiers dépend de la rapidité avec laquelle le marché assimile de nouvelles informations.
En forme faible de marché efficient, le prix actuel reflète toute l'information contenue dans le prix passé.
Les résultats empiriques de cette étude montrent la non-normalité des distributions des rendements des indices boursiers arabes.
Ils confirment aussi le caractère non aléatoire dans leur l'évolution, ce qui signifie le rejet de la forme faible de l’efficience informationnelle pour cet ensemble de marché.
American Psychological Association (APA)
Guebli, Zuhayr. 2015. Are the Arabic financial markets efficient under the weak form ?. Journal of Economic Sciences Institute: Journal of Economics, Management and Trade Sciences،Vol. 2015, no. 31, pp.23-42.
https://search.emarefa.net/detail/BIM-860643
Modern Language Association (MLA)
Guebli, Zuhayr. Are the Arabic financial markets efficient under the weak form ?. Journal of Economic Sciences Institute: Journal of Economics, Management and Trade Sciences No. 31 (2015), pp.23-42.
https://search.emarefa.net/detail/BIM-860643
American Medical Association (AMA)
Guebli, Zuhayr. Are the Arabic financial markets efficient under the weak form ?. Journal of Economic Sciences Institute: Journal of Economics, Management and Trade Sciences. 2015. Vol. 2015, no. 31, pp.23-42.
https://search.emarefa.net/detail/BIM-860643
Data Type
Journal Articles
Language
English
Notes
Includes appendix : p. 41-42
Record ID
BIM-860643
