 Testing Strong Form Market Efficiency of Jordanian Capital Market: Performance Appraisal of Mutual Funds a comparable study case with Saudi ArabiaMazen Bustanji ()
Theory Methodology Practice (TMP), 2020, vol. 16, issue 02, 3-15 Abstract: This paper analyses the strong-form efficiency of the capital market in Jordan by evaluating the performance of mutual funds over the period from 2011 to 2016, and compare it with the situation in Saudi Arabia using the Jensen modelling techniques. These tests were applied on monthly data. Results from the study show that there is no evidence of the strong-form of efficiency in either the Amman Stock Exchange or in the Saudi Arabia capital market. Therefore, investors in the Amman Stock Exchange and Saudi Arabia capital market cannot predict stocks prices or returns in the short term; with regard to firms, it suggests that the securities of firms cannot outperform the market and present market price is to a certain extent a true reflection of the present situation of their securities, in addition there is lack number availability of the mutual funds in Jordan. Keywords: Efficient market hypothesis; Amman Stock Exchange; Jensen modelling technique; Strong-form efficiency; Abnormal Rate of Return. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:mic:tmpjrn:v:16:y:2020:i:02:p:3-15 Access Statistics for this article Theory Methodology Practice (TMP) is currently edited by Zoltan Bartha More articles in Theory Methodology Practice (TMP) from Faculty of Economics, University of Miskolc Contact information at EDIRC. |
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