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Testing weak form informational efficiency on the Romanian capital market

Author

Listed:
  • Andrei STĂNCULESCU

    (Bucharest Academy of Economic Studies)

  • Eugen MITRICĂ

    (Bucharest Academy of Economic Studies)

Abstract

The informational efficiency of the Romanian capital market was previously studied, by different approaches. The first condition that needs verification is that of weak form informational efficiency. The present paper aims to make contributions in this direction, namely to test weak form efficiency, on a sample composed of recent data, collected from the most liquid companies listed on our country’s capital market. For this approach, we use the unit root tests. The results are useful to potential investors, interested to find out whether they can or cannot obtain excessive earnings, by studying stock prices history.

Suggested Citation

  • Andrei STĂNCULESCU & Eugen MITRICĂ, 2012. "Testing weak form informational efficiency on the Romanian capital market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(9(574)), pages 29-36, September.
    • Handle: RePEc:agr:journl:v:9(574):y:2012:i:9(574):p:29-36
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    Cited by:

    1. Pick-Soon Ling & Ruzita Abdul-Rahim, 2017. "Market Efficiency Based on Unconventional Technical Trading Strategies in Malaysian Stock Market," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 88-96.
    2. Pasca Lucian, 2015. "Testing The Weak-Form Efficiency Of The Romanian Capital Market By Assessing The Random Walk-Like Behaviour Of Stock Prices," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 264-269, April.

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