The Egyptian Stock Market

The Egyptian Stock Market: Efficiency Tests and Volatility EffectsMAURO MECAGNI
International Monetary Fund (IMF)
MAGED S. SOURIAL Egyptian Ministry of Foreign TradeApril 1999
IMF Working Paper No. 99/48Abstract:
The paper examines the behavior of stock returns in the Egyptian stock exchange, the efficiency of the market in pricing securities, and the relationship between returns and conditional volatility. GARCH(p,q)-M models estimated for the four best known daily indices indicate significant departures from the efficient market hypothesis; the tendency for returns to exhibit volatility clustering; and a significant positive link between risk and returns, which was significantly affected during the market downturn that followed the introduction of circuit breakers in the form of symmetric price limits on individual shares.Keywords: Emerging stock markets, GARCH modelsJEL Classifications: G12, G14, C52Working Paper Series

UNDERPRICING AND LONG

UNDERPRICING AND LONG-RUN PERFORMANCE OF SHARE ISSUE PRIVATIZATIONS IN THE EGYPTIAN STOCK MARKETMohammed Omran11Arab Academy for Science & Technology, College of Management & Technology, Egypt Arab Monetary Fund, Economic Policy Institute, United Arab Emirates1Arab Academy for Science & Technology, College of Management & Technology, Egypt Arab Monetary Fund, Economic Policy Institute, United Arab EmiratesI would like to thank the executive editor, William T. Moore, and the referee, William Megginson, for their constructive and insightful comments and suggestions. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Arab Monetary Fund.AbstractThe underpricing of initial public offerings (IPOs) is documented for 53 share issue privatizations in Egypt between 1994 and 1998. Over several intervals (up to five years), I find mixed results: share issue privatizations sustain their positive performance and provide investors with positive abnormal returns over a one-year period; however, my results document negative abnormal returns over three- and five-year horizons. The initial excess returns are determined by ex ante uncertainty and oversubscription, whereas the aftermarket abnormal returns over a one-year period are driven by ex ante uncertainty and the price-earnings ratio. However, over three- and five-year periods, abnormal returns are significantly affected by initial excess returns, the price-earnings ratio, and, to a lesser extent, oversubscription. The empirical findings are consistent with IPO markets in which investors are overoptimistic about the performance of these issues but grow more pessimistic over time.

Egyptian Stock

Does the inflation rate affect the performance of the stock market? The case of EgyptMohammed Omrana and John Pointon, ,
a Arab Academy for Science and Technology and Maritime Transport, College of Management and Technology, Alexandria, Egyptb University of Plymouth Business School, Drake Circus, Plymouth, Devon PL4 8AA, UK Received 1 September 2000; revised 10 April 2001; accepted 17 April 2001. Available online 21 September 2001.AbstractThe intention of this paper is to examine the impact of the inflation rate on the performance of the Egyptian stock market. Particular attention is paid to the effects of the rate of inflation on various stock market performance variables, in terms of market activity and market liquidity. From the co-integration analysis through error correction mechanisms (ECM), significant long-run and short-run relationships between the variables are found, implying that the inflation rate has had an impact upon the Egyptian stock market performance generally.Author Keywords: Inflation rate; Stock market; Egypt; Co-integration and error correction mechanism (ECM)JEL classification codes: C12; C22; E44; G10; N25; O11

Can I invest in the Stock Market, a small amount?

Yes can invest any amount, provided that wants more than the amount that began by myself, which is 1500 dollars
Can I invest anywhere?
Yes, you can invest anywhere in the world
Can I invest in the financial markets of America?
Yes, you can invest in American markets, as well as European and Asian markets and even emerging markets
How can I invest anywhere in the world in any market of the world? Is not that science fiction?
This is a fact, not science fiction. Is all this through the Internet
What guarantees? How Bengodi venture in a world unknown?
In legal terms there guarantees provided by the States concerned, the laws are strict and deterrent action. In practice Tip. good education and training before entering the market, but lost everything.
Is the Stock Market a hobby or profession?
Last together. If you deal with the Stock Exchange from time to time in amounts and simple, with a stay in the trial, it could be considered a hobby such as a hobby sport and music, and others. If doubled numerous products and financial deals and many markets and increased the sums allocated by the exchange, Hao then transformed into a professional, or become an investor (businessman
How more satisfactory between normal and pragmatic policies with the stock market, you lay on the practical Atverg STOCK?
At the beginning Mchuark investment you can combine your normal and Exchange Commission, without any problems. The Tekhalik business, we do not recommend that only after you get very high profits and telling good techniques Exchange.

Learn the secrets of the Stock Market

What Stock Market??
Stock, quite simply, a market in which goods (financial products) bought and sold, and traders (investors) were selling and buying. The work in this market process is simple and uncomplicated, but needed to be fully aware of market conditions and techniques of selling and buying. And I know also the name of the Stock Exchange Market the securities are known big profits reaped by injecting this type of investment in short periods of time may not exceed a few hours, but a few minutes.
Liquefaction and Answers..........
You will in this section most of the questions posed, as well as answers them. If not find Baltek, you can contact us, and we in service

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