文章基本信息

标题：Testing the weak efficient market hypothesis:using Bangladeshi panel data
本地全文：下载
作者：Chu V. Nguyen ; Muhammad Mahboob Ali
期刊名称：Banks and Bank Systems
印刷版ISSN：1816-7403
电子版ISSN：1991-7074
出版年度：2011
卷号：6
期号：1
页码：11-15
语种：English
出版社：LLC "CPC "Business Perspectives"
摘要：This empirical study investigates whether the Dhaka Stock Exchange market in Bangladesh is weakly efficient by modifying and estimating Dockery and Kavussanos’ multivariate model using a set of panel data. Consistent with a priori expectation,and previous research results,the findings suggest that the Dhaka Stock Market is not information ally efficient. The results also indicate that when the number of stocks included in the sample exceeds 3,the null hypothesis of the efficient market hypothesis is rejected throughout. A well developed market economy is a necessary condition for an efficient equity market. Thus,to build an efficient stock market,Bangladeshi authority should first concentrate its effort on developing its market infrastructure.
关键词：efficient market hypothesis;panel data;Dhaka Stock Exchange;regression model.