Testing the Weak Form of the Efficiency of Financial Markets / An Applied Study in the Iraqi Stock Market for the Sectors (Hotels, Tourism, and Agriculture)


The Research aims to test the weak form of the efficiency of the Iraqi stock market through the use of a random walk model to analyze the monthly returns of company shares. The research sample was represented by (16) companies listed in the Iraqi stock market within the sectors (hotels, tourism, and agriculture) for the period from January 2015 until December 2019, By using the autocorrelation and rune tests to identify the random movement of the monthly returns of stocks and to show the extent of its impact on the efficiency of the market