Table 3. Relative frequency with which... | Emerald Publishing

Table 3.

Relative frequency with which daily closing prices of Islamic stocks issued in Indonesia clustered on each digit

Digit	Telekomunikasi Indonesia		Vale Indonesia		Bukit Asam		Bumi resources
Digit	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.
0	12.85	2.354**	11.06	0.840	12.53	1.720*	14.99	3.261***
1	8.50	−1.362	9.36	−0.523	9.18	−0.600	10.60	0.426
2	8.64	−1.226	9.28	−0.594	8.96	−0.761	10.06	0.046
3	8.93	−0.957	9.36	−0.523	9.50	−0.360	10.60	0.426
4	8.79	−1.091	8.85	−0.953	10.69	0.488	8.78	−0.904
5	11.55	1.309	12.43	1.863*	10.91	0.638	8.78	−0.904
6	9.88	−0.108	9.36	−0.523	9.29	−0.520	7.92	−1.571
7	11.04	0.888	10.72	0.575	8.21	−1.341	9.64	−0.264
8	9.51	−0.430	9.62	−0.312	11.45	1.006	8.57	−1.068
9	10.31	0.271	9.96	−0.034	9.29	−0.520	10.06	0.046
0+5	24.40	2.779***	23.49	2.050**	23.43	1.792*	23.77	1.970**
Even digits	49.67	−0.171	48.17	−0.887	52.92	1.255	50.32	0.139
Chi-square stat.	25.723		12.634		14.820		32.788
p-value (Chi-square test)	0.002267		0.179876		0.095979		0.000145
	0.002267		0.179876		0.095979		0.000145

Digit	Telekomunikasi Indonesia		Vale Indonesia		Bukit Asam		Bumi resources
Digit	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.
0	12.85	2.354**	11.06	0.840	12.53	1.720*	14.99	3.261***
1	8.50	−1.362	9.36	−0.523	9.18	−0.600	10.60	0.426
2	8.64	−1.226	9.28	−0.594	8.96	−0.761	10.06	0.046
3	8.93	−0.957	9.36	−0.523	9.50	−0.360	10.60	0.426
4	8.79	−1.091	8.85	−0.953	10.69	0.488	8.78	−0.904
5	11.55	1.309	12.43	1.863*	10.91	0.638	8.78	−0.904
6	9.88	−0.108	9.36	−0.523	9.29	−0.520	7.92	−1.571
7	11.04	0.888	10.72	0.575	8.21	−1.341	9.64	−0.264
8	9.51	−0.430	9.62	−0.312	11.45	1.006	8.57	−1.068
9	10.31	0.271	9.96	−0.034	9.29	−0.520	10.06	0.046
0+5	24.40	2.779***	23.49	2.050**	23.43	1.792*	23.77	1.970**
Even digits	49.67	−0.171	48.17	−0.887	52.92	1.255	50.32	0.139
Chi-square stat.	25.723		12.634		14.820		32.788
p-value(Chi-square test)	0.002267		0.179876		0.095979		0.000145
	0.002267		0.179876		0.095979		0.000145

Notes:

*Significance at the 10% level; **significance at the 5% level; ***significance at the 1% level

Source: Own elaboration