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2017 | OriginalPaper | Chapter

5. Examining the Efficiency

Author : Shaista Arshad

Published in: Stock Markets in Islamic Countries

Publisher: Springer International Publishing

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Abstract

As the primary role of the capital market is to allocate the economy’s resources, the fundamental need for an efficient market arises from the importance of efficient resource allocations, which in turn will help the economy. In light of the efficient market hypothesis (EMH), several studies have been undertaken over the past two decade, but very few have been on the Organization of Islamic Cooperation (OIC). This chapter focuses on analysing the weak-form efficiency of OIC member stock markets to determine their efficiency rankings during different business cycles. The results are indicative of improving efficiency over the past decade.

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Footnotes
1
See Pasquini and Serva (1999), Kwapien et al. (2005) and Oswiecimka et al. (2005)
 
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Metadata
Title
Examining the Efficiency
Author
Shaista Arshad
Copyright Year
2017
Book
Stock Markets in Islamic Countries

Print ISBN: 978-3-319-47802-9

Electronic ISBN: 978-3-319-47803-6

Copyright Year: 2017

DOI
https://doi.org/10.1007/978-3-319-47803-6_5