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Document Details
Document Type
:
Article In Journal
Document Title
:
Speculative Activities, Efficiency and Normative Stock Exchange
نشاط المضاربة ، الكفاءة وسوق الأسهم
Subject
:
Discussion Forum
Document Language
:
English
Abstract
:
This study reviews Tag el- din's ( 1996 ) paper and raises the possibilities that his organizational models may create other kinds of inefficiency. Furthermore, using Canadian stock data we extended his study and found that excess speculative activities ( bubbles ) do not add any information to the stock markets. Consequently, according to our empirical evidence, in light of Tag el-Din's view, to achieve an efficient and stable stock market, a highly regulatory normative stock exchange is needed. In this regard this study proposes that the central bank and the goeernment ensure that the investors in the stock markets have comprehensive knowledge of the stock market mechanism. Furthermore, the study proposes that government levies a tax on short-term horizon investment returns.
ISSN
:
1018-7383
Journal Name
:
Islamic Economics Journal
Volume
:
13
Issue Number
:
1
Publishing Year
:
1421 AH
2001 AD
Number Of Pages
:
19
Article Type
:
Article
Added Date
:
Sunday, October 11, 2009
Researchers
Researcher Name (Arabic)
Researcher Name (English)
Researcher Type
Dr Grade
Email
أميركيا
AMIR KIA
Researcher
Files
File Name
Type
Description
21105.pdf
pdf
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