This study examines the univariate ARIMA forecasting model, using the Amman Stock Exchange (ASE) general daily index between 4/1/2004 and 10/8/2004; with out-of-sample testing undertaken on the following seven days. Different diagnostic tests were performed to find the best model describing the data. The selected model predicted that the ASE would continue to grow by 0.195% for seven days starting on 11/8/2004. This forecast, however, was not consistent with actual performance during the period of the prediction (11/8/2004 -19/8/2004) since ASE declined by -0.003% assuring the fact that ASE followed most closely the Efficient Market Hypothesis (EMH) in its weak form.

This study provides evidence on the relationship between governance quality and economic growth. We use the six Worldwide Governance Indicators (WGI) published by the World Bank and a sample of 29 countries (23 developed countries and 6 emerging economies) covering the period. To account for the potential endogeneity problem, we employ panel GMM estimators. The analysis proceeds in three stages. Firstly, we examine the effect of these six governance indicators on economic growth for the whole sample. Next, we apply a principal component analysis (PCA) to these indicators to construct a global governance index (GGI) and test its impact on economic growth. Finally, to examine the effect of the GGI on economic growth in emerging economies relative to developed countries, we introduce an interaction dummy variable. The results show a positive relationship between governance quality and economic growth in both developed and emerging economies. Moreover, the contribution of the GGI to the economic growth of emerging economies is more than that of developed ones.

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This study examines a comprehensive set of 162 Middle East and North Africa (MENA) Initial Public Offerings (IPO's) for the period [2001][2002][2003][2004][2005][2006][2007][2008][2009][2010][2011][2012][2013][2014][2015], considered the first and most comprehensive data set investigated to date. Results confirmed that IPO performances are mixed among MENA countries classified into three groups. The first group comprises countries whose IPOs over-performed the Benchmark portfolio over the short-run, but underperformed over the long-run. The second group comprises countries where IPOs underperformed the Benchmark portfolio over the following 60 months post-listing date where such underperformance became quite significant over the long-run in comparison to the short-run. The third group comprises countries whose IPOs experienced cyclical performance change from over-performance to under-performance and vice versa. Overall, the IPOs went through cycles of price corrections around the fundamental value over the long term when compared to the short term performance. Keywords: IPOs, Investment decision, Assets allocation IntroductionThe literature is extensive, and indicates that initial public offerings (IPOs) tend to be underpriced in the short run, and then underperform the benchmark for three to five years following the offering date. For instance, Ibbotson (1975), Aggarwal and Rivoli (1990), Ritter (1991), Loughran and Ritter (1995), Levis (1993), Keloharju (1993), Rajan and Servaes (1997), Espenlaub et al. (2000), Mitchell and Stafford (2000), Jelic and Briston (2003), Lyn and Zychowicz (2003), Schultz (2003), Lee et al. (2011), andTomasz andJoanna (2012) note that, in general, excess returns over a threeto-five-year period after an offering are negative and significant. This was the case regardless of the employed benchmark. However, these studies also found that, over a five-year period, the underperformance was less dramatic

Lease finance is being used increasingly to acquire items of industrial equipment where use is more crocial than ownership. The study presents a comprehensive overview on the state of the leasing market in Jordan in terms of legislations and market share. In addition, considerable attention is paid to the analysis of the tax & accounting, legal, and marketing variables impact on leasing the industrial items from the industrial companies point view as a possible lessees. OLS model used for testing the study hypothesis. The study relies on collecting the data by using the questionnaire approach developed by the researcher in addition to personal interviews. Overall, 154 questionnaires were distributed on the Jordanian industrial companies listed on Amman Stock Exchange (ASE). The questionnaires returned back were 65%. Selected statistical tests were used to check whether the data meets the model assumptions, such as normality, autocorrolation, multicollinearity tests. In addition, Cronbach Alpha test was applied to check the suitability and credibility of the questionnaire. The study results show that all explanatory variables had signjficant positive influence on the dependent variable (i.e. the use oflease.finance). Therefore, the researchers recommend paying more attention on such variables for enhancing the use of lease finance market since such effort will influence the ultimate economic growth required.