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Testing for Semi-strong Efficiency in the Czech Stock Market

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F06%3A86076340" target="_blank" >RIV/61989100:27510/06:86076340 - isvavai.cz</a>

  • Result on the web

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Testing for Semi-strong Efficiency in the Czech Stock Market

  • Original language description

    This chapter investigates the possibility the newly emerged stock market in the Czech Republic exhibits a semi - strong form of efficiency similar to that which prevails in more developed countries. It means that there are no relationships between laggedvalues of changes in economic variables and changes in stock prices. We use data on one of the most developed financial markets in transition, the Czech Republic, to test equity market efficiency by testing the reaction to macroeconomics releases. The reaction of the stock market index is explored. Our results are surprising, Czech stock market appears to be efficient and lagged economics factors do not affect equity prices.

  • Czech name

  • Czech description

Classification

  • Type

    C - Chapter in a specialist book

  • CEP classification

    AH - Economics

  • OECD FORD branch

Result continuities

  • Project

  • Continuities

    V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Others

  • Publication year

    2006

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Book/collection name

    Mathematical, Econometrical and Computational Methods in Finance and Insurance

  • ISBN

    83-7246-811-7

  • Number of pages of the result

    9

  • Pages from-to

  • Number of pages of the book

    229

  • Publisher name

    AE Katowice

  • Place of publication

    Katowice

  • UT code for WoS chapter