scholarly journals Further evidence on efficiency of Bahrain Bourse: A high challenge for other industries

2020 ◽  
Vol 71 (05) ◽  
pp. 458-466
Author(s):  
THONSE HAWALDAR IQBAL ◽  
RAMONA BIRAU ◽  
CRISTI SPULBAR ◽  
BABITHA ROHIT ◽  
PRAKASH PINTO ◽  
...  
Keyword(s):  
Stock Market ◽  
Negative Impact ◽  
Apparel Industry ◽  
Weak Form ◽  
Time Varying ◽  
Arch Effect ◽  
Textile And Apparel ◽  
Arbitrage Opportunity ◽  
Textile And Apparel Industry ◽  
Weak Form Efficiency

The purpose of the present study is to provide further evidence of the weak form efficiency of the Bahrain Bourse. The research methodology is based on daily closing index values of the Bahrain Bourse from 2011 to 2015 in order to test the efficiency of the stock market while runs test, Autocorrelation Function, and advance tools such as ARCH and GARCH models and Hurst Index to provide further evidence of the weak form efficiency of the Bahrain stock market. For instance, a volatile and inefficient stock market has a negative impact on textile and apparel industry in the Kingdom of Bahrain, which is one of the most prosperous and attractive industries in the country. The empirical results revealed that Bahrain stock market does not follow normal distribution and the successive price changes are not independent. Further, ARCH effect is significant and indicative of a time-varying conditional volatility. There is an arbitrage opportunity and extreme mispricing in the Bahrain stock market as indicated by the GARCH (1,1) model. The results of the Hurst exponent also confirm the inefficiency of the market. The results of these tests are consistent indicating that the Bahrain stock market is inefficient

Global Sourcing Options in Textile and Apparel Industry - A Review

2012 ◽  
Vol 3 (8) ◽  
pp. 1-3 ◽  
Author(s):  
Vandana Gupta ◽  
◽  
Neha Gupta ◽  
Nirmal Yadav ◽  
Keyword(s):  
Apparel Industry ◽  
Global Sourcing ◽  
Textile And Apparel ◽  
Textile And Apparel Industry

The Crompton Closing: Imports and the Decline of America's Oldest Textile Company

2012 ◽  
Vol 47 (1) ◽  
pp. 231-260
Author(s):  
TIMOTHY J. MINCHIN
Keyword(s):  
New England ◽  
Rhode Island ◽  
Apparel Industry ◽  
Central Place ◽  
Continuous Operation ◽  
Manufacturing Industries ◽  
The South ◽  
Textile And Apparel ◽  
Textile And Apparel Industry

This article explores the demise of the Crompton Company, which filed for bankruptcy in October 1984, causing 2,450 workers in five states to lose their jobs. Crompton was founded in 1807 in Providence, Rhode Island and when it went out of business it was the oldest textile firm in the country, having been in continuous operation for 178 years. Despite its history, scholars have overlooked Crompton, partly because most work on deindustrialization has concentrated on heavy manufacturing industries, especially steel and automobiles. I argue that Crompton's demise throws much light on the broader decline of the American textile and apparel industry, which has lost over two million jobs since the mid-1970s, and shows that textiles deserve a more central place in the literature. Using company papers, this study shows that imports played the central role in causing Crompton's decline, although there were also other problems, including the strong dollar, declining exports, and a reluctance to diversify, which contributed to it. The paper also explores broader trends, including the earlier flight of the industry from New England to the South and the industry's unsuccessful campaign to pass import-restriction legislation, a fight in which Crompton's managers were very involved.

scholarly journals Customer Behavior on Purchasing Channels of Sustainable Customized Garment With Perceived Value and Product Involvement

2020 ◽  
Vol 11 ◽  
Author(s):  
Zhenfang Li ◽  
Jia Yuan ◽  
Bisheng Du ◽  
Junhao Hu ◽  
Wenwen Yuan ◽  
...  
Keyword(s):  
Supply Chain ◽  
Perceived Risk ◽  
Perceived Value ◽  
Apparel Industry ◽  
Value Theory ◽  
Purchasing Decisions ◽  
Product Involvement ◽  
Perceived Values ◽  
Textile And Apparel ◽  
Textile And Apparel Industry

Online shopping for customized garments has become the fastest-growing field of the Chinese eBusiness market. Most consumers not only limit themselves to buying standardized garments but also want to buy garments customized to their preferences. This phenomenon has pushed the fashion textile and apparel industry to change its supply chain operations to meet the customization demand. Besides, the fashion textile and apparel industry also want to study how different channel factors will affect consumers' perceived value and further influence consumers' purchasing decisions. We initiated this study and empirically tested more than 200 experienced consumers. This study collaborated with a fashion textile and apparel company that aims to implement customized product lines soon. Based on the perceived value theory and risk management theory, we investigated whether product involvement and channel identification on supply chain design will affects potential customized product consumers' purchasing decisions. The findings reveal that channel recognition affects consumer decisions by having a positive impact on their perceived value. The perceived risk and shopping channel involvement of consumers have a negative impact on their perceived values and channel selections. In addition, product involvement has a moderating effect on the relationship between channel's perceived risk, perceived values, and channel selections as well.

scholarly journals Random Walk Investigation in Indian Market with special reference to S&P Nifty – Fifty Stocks

2015 ◽  
Vol 4 (4) ◽  
pp. 52-61
Author(s):  
Tamilselvan Manickam ◽  
R Madhumitha
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Empirical Support ◽  
Weak Form ◽  
Indian Market ◽  
Price Series ◽  
Stock Market Efficiency ◽  
Indian Stock Market ◽  
Weak Form Efficiency

The competence of a financial system is entirely depending upon the stock market efficiency. The gradual growth of equity investor’s participation is inevitable to enrich the overall growth of emerging economies.Hence the necessity is felt to provide an empirical support to the investing community. For the purpose, this study attempts to examine the weak-form efficiency of Indian stock market – National Stock Exchange (NSE). The study has used the daily closing price of the Nifty fifty stocks from 3rdJanuary 2011 to 24thApril 2015. To test the weak form efficiency both parametric and non-parametric tests called Autocorrelation, Augmented Dicky Fuller test, and Runs Test were performed.  The study reveals that 39 stocks of NSE-Nifty Fifty are found to be weak form inefficient, so that the investors can formulate trading strategies to gain abnormal returns. The Index and 10 stocks are found to be weak form efficient during the study period since the price series found to be autocorrelation existence.

scholarly journals Efficient Market Hypotheses of Nepalese Stock Market

Pravaha ◽  
2020 ◽  
Vol 26 (1) ◽  
pp. 187-198
Author(s):  
Shanker Dhodary
Keyword(s):  
Random Walk ◽  
Stock Market ◽  
Insider Trading ◽  
Research Work ◽  
Weak Form ◽  
Efficient Market ◽  
Parametric Test ◽  
Auto Correlation ◽  
Closing Price ◽  
Weak Form Efficiency

The purpose of this paper is to examine the random walk hypothesis (RWH) by testing the weak-form efficiency in the Nepalese capital market. Descriptive, correlation and causal comparative research design has been used for analyzing the variables and different phenomenon. This research has been prepared only with the help of secondary data. Closing price of company has been collected and analyzed for the period 2015/16-2019/20. Thus researcher tried to analyze the market efficiency with the help of five years data (daily closing price).There are altogether around 233 companies listed in NEPSE. So to make this research feasible and simple researcher has selected only 10 companies from the NEPSE by using purposive sampling technique. In course of selecting company researcher has tried to incorporate only financial sectors as commercial banks, finance companies, insurance, and microfinance companies but development bank has not been taken as sample due to same nature of commercial bank. Researcher examined the weak form efficiency of the Nepal stock exchange (NEPSE) using auto correlation test (parametric test) and run test (non-parametric test) for the period of 2015/16-2019/20. Mainly this research work tested the efficient market hypothesis of Nepalese stock market with the help of daily closing price of 10 Sample Company of different sectors. The market is inefficient in the weak form implies that the NEPSE does not follow a random walk. This means that the NEPSE provides an opportunity for out- performance by skillful managers and investment specialists. Auto correlation exists in price of stock evident that there is high level of dependency of price of stock with the previous ones. It will be easy for speculator and trader to exploit the market and gain handsome profit from the market. All investor are not assumed to be rational in inefficient market, most of the people say investor are investing on the basis of market rumor. Market may be inefficient due the asymmetric of information and insider trading.

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