Country | Index | Hurst Exponent | t-stat | p-value | Conclusion |
Morocco | CASA ESG 10 | 0.61844 | 6.9340 | 0.0004 | The index is not efficient. Signs of persistence in returns |
Egypt | S & P/EGX ESG Index | 0.63747 | 7.7944 | 0.0002 | The index is not efficient. Signs of persistence in returns |
Turkey | BIST Sust. Index | 0.65980 | 7.1839 | 0.0004 | The index is not efficient. Signs of persistence in returns |
Qatar | QSE20 ESG | 0.58911 | 2.8486 | 0.0292 | The index is not efficient. Signs of persistence in returns |
UAE | Hawhamah ESG UAE Index | 0.62045 | 4.6633 | 0.0035 | The index is not efficient. Signs of persistence in returns |