STOCK-MARKET EFFICIENCY IN EMERGING MARKETS: EVIDIENCE FROM VIETNAMESE STOCK MARKET

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F15%3A43874052" target="_blank" >RIV/70883521:28120/15:43874052 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
STOCK-MARKET EFFICIENCY IN EMERGING MARKETS: EVIDIENCE FROM VIETNAMESE STOCK MARKET
Original language description
The objective of this study is to find out whether the Vietnamese stock market is weak-form efficient. This paper applies data daily and weekly returns of VN-index and HNX-index in Hochiminh and Hanoi Stock Exchange, respectively from 2000 to 2013. The results obtained from the test indicate significant deviations from the random walk hypothesis of the stock returns in the Vietnamese market, in which the majority of data experience is positive correlations. Furthermore, the nonparametric runs test is used to determine the randomness of a price or a return sequence as an alternative. The test once again confirms that the Vietnamese stock market is not weak-form efficient.
Czech name
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Czech description
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Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 7th International Scientific Conference Finance and the Performance of Firms in Science, Education and Practice
ISBN
978-80-7454-482-8
ISSN
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e-ISSN
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Number of pages
13
Pages from-to
204-216
Publisher name
Fakulta managementu a ekonomiky, UTB ve Zlíně
Place of publication
Zlín
Event location
Zlín
Event date
Apr 23, 2015
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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