Efficient Market Hypothesis in Times of the Financial Crisis: Evidence

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F12%3A86080786" target="_blank" >RIV/61989100:27510/12:86080786 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Efficient Market Hypothesis in Times of the Financial Crisis: Evidence

Popis výsledku v původním jazyce

Efficient market hypothesis (EMH) is an integral part of financial economics for decades. Efficient market fully and accurately reflects all relevant information. Stock market efficiency with respect to a set of reliable information leads to the fact that it is not possible to achieve consistently abnormal returns by trading. The efficiency in the concept of efficient market hypothesis means that the information are fully reflected in stock prices, therefore it is the information efficiency. First it will be discussed the theoretical background of an efficient stock market hypothesis. Then, using data obtained from the Czech and Polish stock market it will be tested the weak form of efficient market hypothesis by linear and nonlinear statistical methods. The aim of this paper is to analyse an impact of the global financial crisis in 2008-09 on the weak form of efficiency of the Czech and Polish stock markets.

Název v anglickém jazyce

Efficient Market Hypothesis in Times of the Financial Crisis: Evidence

Popis výsledku anglicky

Efficient market hypothesis (EMH) is an integral part of financial economics for decades. Efficient market fully and accurately reflects all relevant information. Stock market efficiency with respect to a set of reliable information leads to the fact that it is not possible to achieve consistently abnormal returns by trading. The efficiency in the concept of efficient market hypothesis means that the information are fully reflected in stock prices, therefore it is the information efficiency. First it will be discussed the theoretical background of an efficient stock market hypothesis. Then, using data obtained from the Czech and Polish stock market it will be tested the weak form of efficient market hypothesis by linear and nonlinear statistical methods. The aim of this paper is to analyse an impact of the global financial crisis in 2008-09 on the weak form of efficiency of the Czech and Polish stock markets.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2012

Kód důvěrnosti údajů

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

Název statě ve sborníku

Recent advances in business administration : proceedings of the 6th WSEAS International Conference on Business Administration (ICBA '12)

ISBN

978-1-61804-066-4

ISSN

1792-7331

e-ISSN

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Počet stran výsledku

6

Strana od-do

25-30

Název nakladatele

WSEAS Press

Místo vydání

Neuvedeno

Místo konání akce

Cambridge

Datum konání akce

25. 1. 2012

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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