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
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DOI - Digital Object Identifier
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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
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Czech description
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Classification
Type
C - Chapter in a specialist book
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
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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
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Number of pages of the book
229
Publisher name
AE Katowice
Place of publication
Katowice
UT code for WoS chapter
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