The objective of this research is to test the stability of systematic risk coefficients of stocks listed on the Damascus Securities Exchange through the period (4/1/2010 – 28/10/2013), and therefore the ability to use the values of these coefficients
to calculate the required rate of return on investment in the individual stocks and portfolios.
The data related to the closed prices of stocks and market index were collected from the website of DSE, which is used to estimate the values of systematic risk (Beta). Then the researcher has tested the stability of the coefficients throughout the entire period and the three sub-periods each one consists of five yearly quarters by using the time as a variable in the regression model, and by testing the significance of the coefficient of time variable.
The results of the research show that greater than 80% of these coefficients were insignificant, that is, the higher percentage of stocks have a stable Beta, and can be used to calculate the required rate of return on investment, therefore suitable investment decisions may be made upon these results.
This research aims to identify the Genral Trend of prices movements of stocks of IBTF bank listed in Damascus Securities Exchange (DSE) during the period starting from the beginning of Damascus Stock Exchange in March 2009 until the end of February 2
011, in order to construct a model helping to predict the future prices of the stock in the short term. Using regression models for time series and ARIMA models, the reseach found that there is an incresing trend in stock prices during this period, and has also concluded that the best model to predict future stock prices is the regression model of the third degree and ARIMA (2,0,1), based on several indicators to test the quality of the model in question without taking into account the emergency and seasonal changes
This research aims to test the reliability of the financial failure
prediction models most commonly used in determining the financial position of the insurance companies listed on the Damascus Securities Exchange (DSE).
To achieve the objectives of
the research has been applied models of both Altman, Sherrod and Kida insurance companies listed on the DSE, where the study included the entire research community,
consisting of six insurance companies Were subjected to the results obtained through the application of the three models to the data to insurance companies studied non parametric tests in order to ascertain whether the discrepancy results of these models are essential or not.
The results of the application of models (Sherrod, Altman and Kida)
on data insurance companies studied showed a clear contrast
between a typical Altman and Sherrod on the one hand and Kida
model on the other hand, the nonparametric statistical tests showed that the differences between the three models is significant variation spirits. The research concluded that it cannot rely on these models to determine the financial position of insurance companies studied.
The research examines the Capital Asset Pricing Model
(CAPM) in Damascus Stock Exchange (DSE), by using the
monthly excess returns of (8) companies listed in (DSE), for the
period of (2010-2013), and the monthly excess return of (DSE)
index (DWX)
for the same period.
The researcher concluded that there is a significant relation
between the volatility of the market excess return and the volatility of the excess returns of stocks of the examined companies, But the researcher also concluded that (CAPM) is not valid in (DSE), because of the failure in the statistical test. That the constant of the regression equation is not equal to zero and the slope of the security market line is not equal to the average excess return of the stocks of examined companies.
The researcher recommended that this study should be retested
when there are a suitable number of listed companies in order to
form portfolios that can diversify away the effect of the unsystematic risk of each company, and to retest the CAPM after
the crises, because the average excess returns for all of the
examined companies were negative. Finally, the researcher
recommended trying other models of asset pricing such as
Arbitrage Pricing Theory (APT), and (Fama) Multifactor Model.
This research aims to formulate an integrated model for voluntary disclosure information in the Syrian business environment, and to test the application of the proposed model in the financial statements of the year (2012) for the (22) listed companie
s in DSE.
To achieve the research goals, the research was based on the previous studies and related researches, to formulate the model and test its validation to be applied. The research tested if the listed companies in DSE disclosed any of the information which
is contained in the suggested model, by reviewing each of the (22) financial statements of the listed companies and the disclosed information was then quantified.
The research has many results as the model is validated for measuring the purposes of the voluntary disclosure. The listed companies of DSE disclosed acceptable information which is included in the model. The disclosing percentage was very low
with the highest percentage being (10%).
This study is concerned in the long relation between monetary policy variable and
Damascus stock exchange (DSE) index,
In general, monetary policy transmission can affect the markets, so the stock market
also effected by that, and this study is in
terested in this relation, so it start by made
theoretical introduction about how can monetary variables effect the stock market index,
then it follow the statistical methodology by use Autoregressive-Distributed Lag model
(ARDL) to estimate the relation between independents variables which are money supply
M1,M2,exchange rate EX, interest rate I, inflation INF, and dependent variables which is
DSE index (M_I)
The result, by using the Unrestricted error correction model (UECM) shows that
there is positive relation in short and long term between money supply (M1) and DSE
index, but it was and negative one in short term between M2 and DSE index, and became a
positive in long term, and the relation was negative between inflation and DSE index in
short and long term. There was a negative one with exchange rate in short and long term,
and also negative one with interest rate.
As conclusion, it should be necessary to improve the behavior of monetary policy to
control all this variable in the way that made it has positive effects on DSE index.
