The Study of Improvement of the Level of Access to Capital Market on Efficiency of Tehran Stock Exchange
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Keywords

Capital market, Tehran stock exchange, Geographical spread, Regional markets, Technology advances, PAM software

How to Cite

Jamali, A. H. ., Asadi, A. ., & Asnavandi, M. . (2012). The Study of Improvement of the Level of Access to Capital Market on Efficiency of Tehran Stock Exchange. International Journal of Asian Social Science, 2(8), 1193–1202. Retrieved from https://archive.aessweb.com/index.php/5007/article/view/2298

Abstract

The present study identify the important of the level of access to capital market on Tehran stock exchange with attention to opening 21 regional markets and use of PAM software in Iran. The goal of the present study is to find out about the effect of two factors on Tehran stock exchange: A)The effect of the geographical spread of regional markets on Tehran stock exchange performance. B)The effect of the use of information and trading software on four indices:1. The number of the traded stocks,2. The value of the traded stocks,3. The number of traders, and 4. The changes of the total index in Tehran stock exchange. To study of this subject we employed Kolmogorov-Smirnov and then Two tail test respectively and The study is done during an era of two years, that is a year before and a year after the geographical spread of the regional markets and the use of the PAM software and then We have used the SPSS software for statistical analysis. It was found that if the standard is the total index, then the geographical spread of the regional markets has had a positive effect on Tehran stock exchange. But such result cannot be concluded for those three factors. Simultaneously, it cannot be concluded that the use of the new software has caused an increase in the standards of evaluating the stock performance that is the number and the value, the number of the traders and the stock traded and the total index in Tehran stock exchange and as a result improving its performance.

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