Market Efficiency of Capital Market in Central Europe
| Author(s): | prof. PhDr. Petr Teplý Ph.D., |
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| Type: | IES Working Papers |
| Year: | 2004 |
| Number: | 52 |
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| Published in: | IES WP 2004/52 |
| Publishing place: | Prague |
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| Grants: | 402/05/2123 (2005-2007) Efficiency of Financial Markets and New Basel Capital Accord (NBCA) |
| Abstract: | In the paper we test a weak form of market efficiency of capital markets in the Czech Republic, the Slovak Republic, Hungary, Poland and in the United States. We have used three methods for our analysis: a break-even points test, a run test and a variance ratio test. Market efficiency has been tested on weekly and monthly values of relevant market indices in the period from 1993 until August 2004. Keywords market efficiency, market index, test, PX-50 |
| Downloadable: |
WP 52 |
