Weak form of Market Efficiency Evidence from Shanghai Stock Market

• Autorzy: Rafał Antosiewicz

Warianty tytułu

Słabość efektywności rynku na przykładzie Szanghajskiej Giełdy Papierów Wartościowych

• Języki publikacji: EN

Abstrakty

EN

Efficient market hypothesis states that all are reflected in stock price. Weak form of hypothesis conclude that prices move in random maimer fallowing specific distribution. Therefore the purpose of this paper is to show how information efficiency relates to the stocks on emerging market. In this case stocks from shanghai stock exchange and measure their efficiency, and to put forward a set of commonalities found in results of literature relating to emerging market information efficiency. Paper examines 20 stocks from Shanghai stock exchange list B. By employment a variety of statically methods we obtained mixed results that cannot be use to definitely state that china stock market is weakly efficient or not. (original abstract)

Hipoteza tynków efektywnych zakłada, że wszystkie dostępne informacje znajdują się w cenie walom. Słaba forma powyższej hipotezy mówi, że zmiany cen są przypadkowe i zgodne określonym rozkładem. W związku z powyższym celem tego artykułu jest określenie czy papiery notowanie na rynku wschodzącym spełniają powyższe założenia. W tym przypadku obiektem badania były papiery notowane na giełdzie w Szanghaju. W artykule do badania wybrano 20 akcji z listy B giełdy w Szanghaju. Przy użyciu różnych statystycznych metod badawczych uzyskaliśmy niejednoznaczne rezultaty, które nie pozwalają na jednoznaczne stwierdzenie występowania lub braku słabej efektywności rynków. (abstrakt oryginalny)

Słowa kluczowe

EN

Market effectiveness; Prices; Shares

PL

Efektywność rynku; Ceny; Akcje

• Czasopismo: Ekonomika i Organizacja Przedsiębiorstwa
• Rocznik: 2018
• Numer: nr 8
• Strony: 2--13

Twórcy

autor

Rafał Antosiewicz

• Warsaw School of Economics

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