Table 6 Unit-Root Analysis
From: Performance of Islamic and conventional stock indices: empirical evidence from an emerging economy
Augmented Dickey Fuller | Phillips-Peron | |||
|---|---|---|---|---|
Index Name | At Level | At Difference | At Level | At Difference |
Conventional index (KSE-100) | −2.132 (0.2319) | −48.251 (0.0001) | −2.120 (0.2366) | −49.54 (0.0001) |
Islamic Index (KMI-30) | −0.6051 (0.8670) | −47.1839 (0.0001) | −0.6437 (0.858) | −47.187 (0.0001) |
FX (Foreign Exchange) | 0.3045 (0.9785) | −11.4329 (0.0000) | −0.5389 (0.9880) | −32.8513 (0.0000) |
INT (Interest Rate) | −1.3531 (0.6065) | −22.2255 (0.0000) | −3.2041 (0.0199) | −133.068 (0.0000) |