Table 4. Relative frequency with which... | Emerald Publishing

Table 4.

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

Digit	Petronas chemical group		Press metal aluminium hold.		Sime darby plantation		IHH healthcare
Digit	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.
0	19.79	9.138***	20.61	9.789***	17.28	7.012***	16.20	4.109***
1	7.70	−2.692***	9.01	−1.118	8.04	−2.258**	9.60	−0.301
2	7.70	−2.692***	7.65	−2.748***	7.77	−2.593***	7.00	−2.405**
3	7.61	−2.804***	7.65	−2.748***	9.05	−1.071	7.90	−1.645*
4	7.79	−2.580***	8.24	−2.028**	8.23	−2.038**	8.60	−1.078
5	12.32	2.447**	14.13	4.213***	12.80	2.911***	14.60	3.132***
6	9.42	−0.651	7.84	−2.524**	8.87	−1.283	10.10	0.074
7	7.65	−2.748***	6.43	−4.318***	8.55	−1.657*	8.40	−1.238
8	9.47	−0.599	9.69	−0.343	10.01	0.010	10.10	0.074
9	10.55	0.605	8.74	−1.436	9.41	−0.654	7.50	−1.978**
0+5	32.11	9.167***	34.74	10.983***	30.07	7.691***	30.80	5.548***
Even digits	54.17	2.771***	54.03	2.681***	52.15	1.421	52.00	0.895
Chi-square stat.	284.554		361.538		169.248		83.960
p-value (Chi-square test)	<0.000001		<0.000001		<0.000001		<0.000001
	<0.000001		<0.000001		<0.000001		<0.000001

Digit	Petronas chemical group		Press metal aluminium hold.		Sime darby plantation		IHH healthcare
Digit	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.	Freq. (%)	z-stat.
0	19.79	9.138***	20.61	9.789***	17.28	7.012***	16.20	4.109***
1	7.70	−2.692***	9.01	−1.118	8.04	−2.258**	9.60	−0.301
2	7.70	−2.692***	7.65	−2.748***	7.77	−2.593***	7.00	−2.405**
3	7.61	−2.804***	7.65	−2.748***	9.05	−1.071	7.90	−1.645*
4	7.79	−2.580***	8.24	−2.028**	8.23	−2.038**	8.60	−1.078
5	12.32	2.447**	14.13	4.213***	12.80	2.911***	14.60	3.132***
6	9.42	−0.651	7.84	−2.524**	8.87	−1.283	10.10	0.074
7	7.65	−2.748***	6.43	−4.318***	8.55	−1.657*	8.40	−1.238
8	9.47	−0.599	9.69	−0.343	10.01	0.010	10.10	0.074
9	10.55	0.605	8.74	−1.436	9.41	−0.654	7.50	−1.978**
0+5	32.11	9.167***	34.74	10.983***	30.07	7.691***	30.80	5.548***
Even digits	54.17	2.771***	54.03	2.681***	52.15	1.421	52.00	0.895
Chi-square stat.	284.554		361.538		169.248		83.960
p-value(Chi-square test)	<0.000001		<0.000001		<0.000001		<0.000001
	<0.000001		<0.000001		<0.000001		<0.000001

Notes:

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

Source: Own elaboration