Are Asian Sharīʼah-Compliant Equity Indices Predictable
Clicks: 1
ID: 310998
2021
Article Quality & Performance Metrics
Overall Quality
Not rated
Combines reader engagement with the AI quality analysis. This
article has not been analysed, so there is no overall score —
reader engagement is measured and shown alongside.
Reader Engagement
0.0
/100
1 views
0 readers
AI Quality Assessment
Not analyzed
Readership in this journal
Ranked #129 of 259 articles by views in Pakistan Journal of Islamic Research
Most read
Least read
Bar heights use a square-root scale. Only the 120 most-read articles are drawn; the journal has 259 in total.
Mint this article as an NFT
Not yet mintedCreate a permanent, verifiable on-chain record of this article on the Scimatic Network. The NFT is held in your Journament account, and you can withdraw it to your own wallet at any time.
5
SUSD
one-off · no wallet required
Abstract
This study examines the informational efficiency in the weak-form of Islamic (Sharīʼah-compliant) equity indices of selected countries by testing the Martingale Difference Hypothesis and the Random Walk Hypothesis. The study applies Automatic Portmanteau Test (AQ) and Automatic Variance Ratio Test (AVR) on daily index return from 1st July 2009 to 30th June 2018. All indices appear to be informationally efficient (weak-form) as per the AQ Test, except FTSE Malaysia EMAS Sharīʼah Index and Jakarta Islamic Index. As per results of AVR Test, Islamic indices of China and Malaysia were not found weak-form of efficient. Whereas, as per the combined results of both AQ and AVR Tests, it is found that only three indices rejected the weak-form of efficiency and five indices are consistent with weak-form of efficiency. So, it can be concluded that Asian Islamic indices have the sufficient level of tendency towards the informational efficiency in weak form. Findings of this study will help the academicians, regulators, and policy-makers understand the application of market efficiency hypothesis, and its major aspects that need further investigation.
| Reference Key |
imported_1769980008_697fc0688f655
Use this key to autocite in the manuscript while using
SciMatic Manuscript Manager or Thesis Manager
|
|---|---|
| Authors | Asif Yaseen |
| Journal | Pakistan Journal of Islamic Research |
| Year | 2021 |
| DOI |
DOI not found
|
| URL | |
| Keywords | Keywords not found |
Citations
No citations found. To add a citation, contact the admin at info@scimatic.org
Comments
No comments yet. Be the first to comment on this article.