DOIONLINE 
DOIONLINE Publish In |
International Journal of Management and Applied Science (IJMAS)-IJMAS |
 Journal Home Volume Issue |
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Issue |
Volume-3,Issue-3 ( Mar, 2017 ) | |||||||||
Paper Title |
Examining the Weak form of Market Efficiency Risk: Evidence from Muscat Security Market Financial Index Sector | |||||||||
Author Name |
Mubarak Al-Habsi, Khalid Al-Amri | |||||||||
Affilition |
Head of Follow-Up and Settlement-Investment Department of the Public Authority for Social Insurance, Oman. College of Economics and Political Science, Sultan Qaboos University, Oman | |||||||||
Pages |
60-67 | |||||||||
Abstract |
This study investigates the weak form market efficiency of indices for the Financial returns as listed in the Muscat Securities Market (MSM30 index) in Oman, by conducting monthly observations from January 2010 until December 2014. All macroeconomic variables, covered under Financial Sectoral Index , were found to be co-integrated. Furthermore, the findings exhibit that oil prices as a determinant have the most significant relationship on the Financial Stock Index. It was found that the CPI to exert no influence on the Financial index prices. Whilst inflation appears to be a third determinant, there is a significant effect on the Financial and Service indices prices. The overall findings from the period suggest that the Financial Index Prices listed in MSM30 is inefficient in weak form market efficiency, which is consistent with previous studies examining the weak form of market efficiency. Keywords: Financial Risk; Efficiency; Oman; Capital Market. | |||||||||
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