TEST FINANCIAL MARKET EFFICIENCY USING THE PATH ANALYSIS MODULES – CARCHAN APPLIED STUDY IN IRAQ STOCK EXCHANGE

Authors

  • Abbas Hussein Aliwi Al-eiqabi, Hisham Talat Abdel-Hakeem Al-wandawi

Abstract

The present study aims to investigate aims to test the efficiency of the Iraq Stock Exchange within the framework of the random walk model, and the market index (ISX60) was chosen to verify the extent of the reflection of historical information and data on the stock returns of companies listed on the stock market. This study was conducted using a sample consisting of (239) views of the daily closing index of the Iraqi stock market during the period from (2020\1\2) to (2021\3\31).Judging the existence of random yields as a test: GARCH model, the cumulative effect test by linear modeling.  The results of the statistical tests used in the study showed that the time series of stock returns in the Iraqi stock market follows a random walk model, which makes it difficult to predict its future movements based on the data of the previous period, and this shows us that the Iraqi stock market is efficient  At the weak level.

 

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Published

2021-05-12

How to Cite

Abbas Hussein Aliwi Al-eiqabi, Hisham Talat Abdel-Hakeem Al-wandawi. (2021). TEST FINANCIAL MARKET EFFICIENCY USING THE PATH ANALYSIS MODULES – CARCHAN APPLIED STUDY IN IRAQ STOCK EXCHANGE. PalArch’s Journal of Archaeology of Egypt / Egyptology, 18(08), 1299-1312. Retrieved from https://archives.palarch.nl/index.php/jae/article/view/8883