{"title":"海湾合作委员会地区信息市场效率:伊斯兰市场与传统市场的比较研究","authors":"Gharbi Leila, Halioui Khamoussi","doi":"10.1109/ICMSAO.2013.6552720","DOIUrl":null,"url":null,"abstract":"This paper examines the informational market efficiency in the Islamic and conventional markets in the Gulf Cooperation Council (GCC) region. It aims to investigate whether Islamic markets would be more or less efficient than the conventional ones. Findings indicate that both Dow Jones Islamic Market GCC and Dow Jones GCC Indexes show characteristics of random walk. However, we find an impact of market illiquidity variable on Islamic stock prices but with small extent compared with conventional banking sectors. It is also observed that investor sentiment takes a large explanatory power in the explanation of the stock prices for both Islamic and conventional banking sectors.","PeriodicalId":339666,"journal":{"name":"2013 5th International Conference on Modeling, Simulation and Applied Optimization (ICMSAO)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2013-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Informational market efficiency in GCC region: A comparative study between Islamic and conventional markets\",\"authors\":\"Gharbi Leila, Halioui Khamoussi\",\"doi\":\"10.1109/ICMSAO.2013.6552720\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper examines the informational market efficiency in the Islamic and conventional markets in the Gulf Cooperation Council (GCC) region. It aims to investigate whether Islamic markets would be more or less efficient than the conventional ones. Findings indicate that both Dow Jones Islamic Market GCC and Dow Jones GCC Indexes show characteristics of random walk. However, we find an impact of market illiquidity variable on Islamic stock prices but with small extent compared with conventional banking sectors. It is also observed that investor sentiment takes a large explanatory power in the explanation of the stock prices for both Islamic and conventional banking sectors.\",\"PeriodicalId\":339666,\"journal\":{\"name\":\"2013 5th International Conference on Modeling, Simulation and Applied Optimization (ICMSAO)\",\"volume\":\"17 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2013-04-28\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"2013 5th International Conference on Modeling, Simulation and Applied Optimization (ICMSAO)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/ICMSAO.2013.6552720\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"2013 5th International Conference on Modeling, Simulation and Applied Optimization (ICMSAO)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/ICMSAO.2013.6552720","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Informational market efficiency in GCC region: A comparative study between Islamic and conventional markets
This paper examines the informational market efficiency in the Islamic and conventional markets in the Gulf Cooperation Council (GCC) region. It aims to investigate whether Islamic markets would be more or less efficient than the conventional ones. Findings indicate that both Dow Jones Islamic Market GCC and Dow Jones GCC Indexes show characteristics of random walk. However, we find an impact of market illiquidity variable on Islamic stock prices but with small extent compared with conventional banking sectors. It is also observed that investor sentiment takes a large explanatory power in the explanation of the stock prices for both Islamic and conventional banking sectors.
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