E-ISSN: 2456-2033

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IJAREM: Volume 10 - No. 01, 2024


1. Testing the weak form of efficient market hypothesis: evidence from the Moroccan Stock Market
Soukrati Zineb
Objective: The aim of this study is to evaluate the weak form informational efficiency of the Moroccan stock market through its MASI index (Moroccan All Shares Index). Methodology: To this end, we used the daily closing prices of the MASI index, covering the period from 03/01/2002 to 23/11/2024, totaling 5302 observations. To assess the random walk hypothesis (RWH), various tests were applied, namely unit root tests, including the Augmented Dickey-Fuller test, the Phillips-Perron test, and the Kwiatkowski, Phillips, Schmidt, and Shin test; normality tests such as the Jarque-Bera test, the Kolmogorov-Smirnov test, the Lilliefors test, the Cramer-von Mises test, the Anderson-Darling test, and the quantile-quantile plot-based test; the Ljung-Box serial correlation test; the variance ratio test; and the Runs test. Results: The results obtained from all applied tests indicate that the series of geometric returns of the MASI index does not follow a random walk. Conclusion: Based on the results of the various tests applied, it is concluded that the Moroccan stock market is inefficient in its weak form.


2. Technology, Application and Development of Industrial Robots
Jing Lei, Jia-Qing Song, Ji-Yan Wang
In the context of continuous progress in science and technology and rapid development of industrialization, industrial robot technology, as an efficient, flexible and reliable automation solution, has gradually been widely used in various industries. Industrial robots can not only improve production efficiency and product quality, but also reduce labor costs and labor intensity, creating a greater competitive advantage for enterprises. This paper conducts in-depth research and exploration on the technology, development, application and role of industrial robots, and looks forward to the development trend of industrial robots in the future, and puts forward the development strategy of the industrial robot industry. In order to provide a certain reference value for relevant technical personnel.


3. Description of the Soil Crushing Process using a Toothed Working Tool
Z. Shanina, A. Fasoliak, A. Zasovenko, T. Slyusarova, O. Syvachuk
Objective: Ukraine’s chernozems represent one of the nation's most valuable assets and a strategic resource. The quality and fertility of soils significantly depend on the processing method and the structural features of the processing tool. To intensify the process, improve quality, and reduce energy consumption in soil processing, a design of a toothed working tool (TWT) has been proposed. The task is to test the effectiveness of the new TWT, investigate the mechanics of soil crushingwhile processing it with a toothed working tool, and develop models for the interaction of soil with the tooth surfaces of the working tool.
Research Methods: Mathematical models of soil fragmentation mechanics while tilled with the toothed working tool have been developed. The crushing process consists of two sequential phases. In the first phase, the soil layer is disrupted as it passes through the frontal surface of the tool, designed in a logarithmic spiral. The disruption of the soil layer in the first phase depends on the machine's speed and the characteristic angle of the logarithmic spiral on the frontal surface of the TWT. Then, the layer is crushed on the undulating surface of a sinusoidal cylinder. After fragmentation on the frontal surface of the TWT, the soil enters the undulating surface already significantly loosened. During this phase, the layer undergoes deformation on the sinusoidal surface, further disrupting the integrity and pulverizing the soil layer through successive stretching (rupture) and compression deformations induced by the depressions and protrusions of the sinusoidal surface of the TWT. The combination of the spiral and sinusoidal surfaces of the toothed working tool ensures high-quality and energy-efficient soil processing.
Scientific Novelty: Considering modern agricultural realities and the prospects of Ukraine, soil processing with a new toothed tool featuring combined working surfaces in the form of a logarithmic spiral and a sinusoidal cylinder represents a timely, relevant, and novel direction in agricultural science.
Practical Value: Soil layer disruption during tillage with conventional working tools primarily occurs due to tensile deformations with shear. When processed with the proposed toothed working tool, additional compression, stretching, and bending stresses are generated in the soil due to the replication of the complex profile of the TWT's working surface. The non-uniform deformation field contributes to high-quality soil crushing during tillage with minimal energy consumption.


4. The Implementation Path of Ideological and Political Teaching in the Information and Computing Science Major Course Integrated into Taishan Culture
Jing Lei, Jia-Qing Song, Bo-Ye Li
Taking Taishan culture as an example, this paper selects the materials of Taishan Feng Zen culture, red history and culture, celebrity culture and Taishan spirit, innovates teaching methods, integrates Taishan cultural elements into the introduction and participatory teaching methods, and studies the entry point and process of the integration of local culture and ideological and political teaching in colleges and universities.


5. Assessing weak-form efficiency in the Moroccan stock market: A focus on ARFIMA models
Soukrati Zineb
Objective: The objective of this study is to assess the weak form of informational efficiency in the Moroccan stock market, utilizing the MASI index (Moroccan All Shares Index).
Methodology: For this purpose, we utilized the Autoregressive Fractionally Integrated Moving Average (ARFIMA) model on the daily geometric returns of the MASI index. The analysis spans from March 1, 2002, to January 22, 2024, encompassing a total of 5501 observations.
Results: The obtained results suggest that the series of geometric returns for the MASI index displays characteristics of long memory.
Conclusion: We concluded that the Moroccan stock market is inefficient in its weak form, implying the potential for investors to attain abnormal returns.


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