دانلود مقاله ISI انگلیسی شماره 83327
کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
83327 2018 37 صفحه PDF سفارش دهید 8580 کلمه
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Stock market efficiency: A comparative analysis of Islamic and conventional stock markets
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Physica A: Statistical Mechanics and its Applications, Volume 503, 1 August 2018, Pages 139-153

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چکیده انگلیسی

In this paper, we examine the comparative efficiency of 12 Islamic and conventional stock markets counterparts using multifractal de-trended fluctuation analysis (MF-DFA). The full sample results indicate that developed markets are relatively more efficient, followed by the BRICS’ stock markets. The comparative efficiency analysis shows that almost all the Islamic stock markets excluding Russia, Jordan and Pakistan are more efficient than their conventional counterparts. Implying that Islamic stock markets are new, however the peculiar nature, shari’ah compliant laws and good governance and disclosure mechanisms make them more efficient. Further, our results indicate that the Islamic stock markets’ adjustment to speculative activity is, in fact, higher than their conventional counterparts. The findings of the study may help regulators and policy makers to reduce economic distortions through more effective resource allocation.

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پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.