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Author : Richard David Francis Harris
Publisher :
ISBN 13 :
Total Pages : 211 pages
Book Rating : 4.:/5 (18 download)
Download or read book Some Tests of the Efficient Markets Hypothesis Using Panel Data written by Richard David Francis Harris and published by . This book was released on 1996 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard David Francis Harris
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (596 download)
Download or read book Some Tests of the Efficiency Markets Hypothesis Using Panel Data written by Richard David Francis Harris and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard David Francis Harris
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (61 download)
Download or read book Some Tests of the Efficient Markets Hypothesis Panel Data written by Richard David Francis Harris and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Everton Dockery
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Testing the Efficient Market Hypothesis Using Panel Data; With Application to the Athens Stock Exchange written by Everton Dockery and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper performs unit root tests using panel data to investigate empirically stock price efficiency of the Athens stock market. Our Wald test statistics reject the random walk hypothesis for stock prices, which is a necessary condition for market efficiency.
Author : Vivekanand Nawosah
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (142 download)
Download or read book Some Tests of Efficient Markets Hypothesis Using Individual Stock Data written by Vivekanand Nawosah and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mario Chinas
Publisher : Library of Cyprus
ISBN 13 : 9789925755608
Total Pages : 114 pages
Book Rating : 4.7/5 (556 download)
Download or read book Efficient Market Hypothesis written by Mario Chinas and published by Library of Cyprus. This book was released on 2019-02-23 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the Black & White version of the book, available at a discount, which does not include the research data and analysis tables. There is also a Full Colour version that includes all the research data and analysis tables. What is a Stock Market? How do stock markets operate? Who invests in a stock market and when is it an appropriate tool for investment? Why do we care if a stock market is efficient or not? Where can we find evidence of market efficiency? With what tools can we test market efficiency?These are some of the questions that this book approaches. The Efficient Market Hypothesis (EMH) is a theory in financial economics, developed by Eugene Fama, which states that asset prices fully reflect all available information. Thus, it is implied that stocks always trade at their fair value, making it impossible for investors to "beat the market" via technical or fundamental analysis, since market prices should only react to new information.There are three variants of the EMH: "weak," "semi-strong," and "strong" form. The weak form of the EMH claims that prices already reflect all past publicly available market information. The semi-strong form claims that prices reflect all publicly available information, thus price changes occur to reflect new publicly available information. The strong form adds to this that prices instantly reflect even hidden private "insider" information.Testing the EMH is no easy task: Quantifying the availability of information and its effect on prices and market efficiency is challenging, making research on the subject difficult, time consuming and open to criticism. However, anecdotal evidence suggests that markets at best reach semi-strong form efficiency, with weak form efficiency being the norm. However, even this is challenged by the critics of EMH, via concepts such as Behavioural Finance.This book aims to familiarise the reader with the concept of EMH, covering the fundamentals and relevant literature. We then discuss market efficiency tests for Weak Form Market Efficiency, examining in more detail the day-of-the-week effect and its significance on stock market efficiency. The day-of-the-week effect is defined as a pattern where a certain day of the week has abnormal returns continuously. It is an anomaly that violates the random walk hypothesis, and thus implies that a market is not Weak Form efficient.We put theory into practice through the Empirical Research section which is divided into two parts, looking at two different approaches to researching the day-of-the-week effect, via the examination of actual research examples on a small European stock exchange. Both of these Thesis tested the hypothesis of random walk to determine the authenticity of weak form market efficiency for a small emerging stock market within the EU (the Cyprus Stock Exchange).
Author : Björn Schubert
Publisher : GRIN Verlag
ISBN 13 : 3640378563
Total Pages : 69 pages
Book Rating : 4.6/5 (43 download)
Download or read book Weak Form Efficiency Tests written by Björn Schubert and published by GRIN Verlag. This book was released on 2009-07-21 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2009 in the subject Business economics - Investment and Finance, grade: 2,3, University of Edinburgh, language: English, abstract: While using standard tests of weak form market efficiency along with the more recent DELAY test, this report examines if the returns of six selected stocks and two decile indices follow a random walk which would evidence the non-predictability of future stock returns by historical prices which is a necessary condition for the weakest form of market efficiency. The evidence of four different measurement tests suggests that except of one stock all stocks and indices drift away from the weak form market efficiency hypothesis.
Author : Sebastian Harder
Publisher : GRIN Verlag
ISBN 13 : 3640743768
Total Pages : 65 pages
Book Rating : 4.6/5 (47 download)
Download or read book The Efficient Market Hypothesis and Its Application to Stock Markets written by Sebastian Harder and published by GRIN Verlag. This book was released on 2010-11 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2008 in the subject Business economics - Investment and Finance, grade: 1.7, The FOM University of Applied Sciences, Hamburg, language: English, abstract: Especially after the 90ies, where the stock markets raised enormously, many private investors joined the stock market and were blended by abnormal profits and neglected possible losses. The same behavior could be observed before the Financial Crisis became reality. But each endless raising stock market would finally collapse, because stock prices are randomly and only driven by relevant news. The adjustment to the news is quickly. This is the theoretical argumentation of the Efficient Market Hypothesis (EMH), which will be evaluated in this paper. The author gives an overview about the EMH by explaining the basic principles and its mathematical formulation. The practical part evaluated the EMH on selected examples, where the theory could only be partly approved.
Author : Linda Ginzel
Publisher : Agate Publishing
ISBN 13 : 1572848456
Total Pages : 154 pages
Book Rating : 4.5/5 (728 download)
Download or read book Choosing Leadership written by Linda Ginzel and published by Agate Publishing. This book was released on 2018-10-16 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choosing Leadership is a new take on executive development that gives everyone the tools to develop their leadership skills. In this workbook, Dr. Linda Ginzel, a clinical professor at the University of Chicago’s Booth School of Business and a social psychologist, debunks common myths about leaders and encourages you to follow a personalized path to decide when to manage and when to lead. Thoughtful exercises and activities help you mine your own experiences, learn to recognize behavior patterns, and make better choices so that you can create better futures. You’ll learn how to: Define leadership for yourself and move beyond stereotypes Distinguish between leadership and management and when to use each skill Recognize the gist of a situation and effectively communicate it with others Learn from the experience of others as well as your own Identify your “default settings” and become your own coach And much more Dr. Linda Ginzel is a clinical professor of managerial psychology at the University of Chicago’s Booth School of Business and the founder of its customized executive education program. For three decades, she has developed and taught MBA and executive education courses in negotiation, leadership capital, managerial psychology, and more. She has also taught MBA and PhD students at Northwestern and Stanford, as well as designed customized educational programs for a number of Fortune 500 companies. Ginzel has received numerous teaching awards for excellence in MBA education, as well as the President’s Service Award for her work with the nonprofit Kids In Danger. She lives in Chicago with her family.
Author : Andrew W. Lo
Publisher : Princeton University Press
ISBN 13 : 0691092567
Total Pages : 449 pages
Book Rating : 4.6/5 (91 download)
Download or read book A Non-Random Walk Down Wall Street written by Andrew W. Lo and published by Princeton University Press. This book was released on 2002-01-15 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: For 50 years, financial experts have regarded the movements of markets as a random walk, and this hypothesis has become a cornerstone of modern financial economics. Lo and MacKinlay put the random walk hypothesis to the test in this volume, which elegantly integrates their most important articles.
Author : Allen N. Berger
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (116 download)
Download or read book Tests of the Fair Game-efficient Markets Hypothesis written by Allen N. Berger and published by . This book was released on 1983 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Allen N. Berger
Publisher :
ISBN 13 :
Total Pages : 212 pages
Book Rating : 4.:/5 (29 download)
Download or read book Essays on Testing Efficient Markets and Forecasts written by Allen N. Berger and published by . This book was released on 1983 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stefan Palan
Publisher : GRIN Verlag
ISBN 13 : 3638333523
Total Pages : 75 pages
Book Rating : 4.6/5 (383 download)
Download or read book The Efficient Market Hypothesis and its Validity in Today's Markets written by Stefan Palan and published by GRIN Verlag. This book was released on 2004-12-21 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thesis (M.A.) from the year 2004 in the subject Business economics - Investment and Finance, grade: 1 (A), University of Graz (Institute für Industrial Economics), language: English, abstract: This Master Thesis gives an overview of the research into the efficient market hypothesis from its first days in the 1950s to the present. The discussion of theoretical models and concepts is being complemented by a review of relevant empirical evidence from international capital markets. The thesis is completed by a brief outlook on newer research venues, including models employing behavioural finance approaches.
Author : Michael S. Rozeff
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (869 download)
Download or read book Tests of the Efficient Market Model Using Aggregate Odd-lot Data written by Michael S. Rozeff and published by . This book was released on 1975 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ronald Hutchins (E.)
Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.:/5 (536 download)
Download or read book A Test of the Semi-strong Form of the Efficient Markets Hypothesis Using Valuation Models and Quarterly Information written by Ronald Hutchins (E.) and published by . This book was released on 1977 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bjørn Espen Eckbo
Publisher : Elsevier
ISBN 13 : 0080488919
Total Pages : 559 pages
Book Rating : 4.0/5 (84 download)
Download or read book Handbook of Corporate Finance written by Bjørn Espen Eckbo and published by Elsevier. This book was released on 2007-05-21 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms’ financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything “corporate is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work. *The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance *Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance *The series is international in scope with contributions from field leaders the world over
Author : John Y. Campbell
Publisher : Princeton University Press
ISBN 13 : 1400830214
Total Pages : 630 pages
Book Rating : 4.4/5 (8 download)
Download or read book The Econometrics of Financial Markets written by John Y. Campbell and published by Princeton University Press. This book was released on 2012-06-28 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past twenty years have seen an extraordinary growth in the use of quantitative methods in financial markets. Finance professionals now routinely use sophisticated statistical techniques in portfolio management, proprietary trading, risk management, financial consulting, and securities regulation. This graduate-level textbook is intended for PhD students, advanced MBA students, and industry professionals interested in the econometrics of financial modeling. The book covers the entire spectrum of empirical finance, including: the predictability of asset returns, tests of the Random Walk Hypothesis, the microstructure of securities markets, event analysis, the Capital Asset Pricing Model and the Arbitrage Pricing Theory, the term structure of interest rates, dynamic models of economic equilibrium, and nonlinear financial models such as ARCH, neural networks, statistical fractals, and chaos theory. Each chapter develops statistical techniques within the context of a particular financial application. This exciting new text contains a unique and accessible combination of theory and practice, bringing state-of-the-art statistical techniques to the forefront of financial applications. Each chapter also includes a discussion of recent empirical evidence, for example, the rejection of the Random Walk Hypothesis, as well as problems designed to help readers incorporate what they have read into their own applications.
