Estimating damages in securities fraud cases in Saudi capital market: the fiqh,legal basis and econometric methods

The paper examines the applicable econometric methods to estimate financial damages in securities fraud cases filed with the committee for the resolution of securities disputes (crsd) in saudi capital market. the paper starts with a primer highlighting the key fiqh and legal concepts related to securities fraud cases and the two widely adopted econometric methods to estimate the damage awards. using real data from saudi stock market (tadawul),the paper applied the two econometric methods to estimate the damages in three securities fraud cases already filed with crsd. the paper demonstrates the viability of applying these methods in saudi legal environment and opens the door for future research on the economic analysis of saudi laws and the role of econometrics in court rulings.