>
Fa   |   Ar   |   En
   Financial market theory of development - Evidence from Palestine and Israeli Stock Exchanges  
   
نویسنده hadi a.r.a. ,hiung e.y.t. ,hamad s.a. ,iqbal t.
منبع jurnal pengurusan - 2016 - دوره : 46 - شماره : 0
چکیده    This study is compelled by the motivation to find out potential equilibrium and dynamic relationships involving two neighboring stock exchanges - palestine stock exchange (pex) and tel aviv stock exchange (tase). based upon financial market theory of development,we attempt to explore the degree of integration between the two exchanges using engle-granger cointegration procedures (1987). data were collected on monthly basis over sample period from january 1998 till february 2012. the empirical results from bivariate error correction model (ecm) reveal a statistically significant long-term relation between the two exchanges. however,the results from granger causality tests indicate absence of short-term relationships between them. to unveil granger causality in a dynamic context,we use out-of-sample testing via impulse-response functions (irf) and variance decompositions (vdc.) interestingly,both tests show that performance of tase does affect its archrival.
کلیدواژه Al-Quds index; Bivariate error correction mode; Financial market theory of development; Tel Aviv - 100 index
آدرس unikl business school,universiti kuala lumpur,1016 jalan sultan ismail,kuala lumpur, Malaysia, unikl business school,universiti kuala lumpur,1016 jalan sultan ismail,kuala lumpur, Malaysia, unikl business school,universiti kuala lumpur,1016 jalan sultan ismail,kuala lumpur, Malaysia, unikl business school,universiti kuala lumpur,1016 jalan sultan ismail,kuala lumpur, Malaysia
 
     
   
Authors
  
 
 

Copyright 2023
Islamic World Science Citation Center
All Rights Reserved