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Testing The Efficient Market Hypothesis From The Informational Point Of View - The Case Of The Romanian Capital Market

Author

Listed:
  • BRATIAN Vasile Radu

    (Lucian Blaga University of Sibiu)

  • TARAN-MOROSAN Adrian

    (Lucian Blaga University of Sibiu)

Abstract

In this paper we aim to test the efficient market hypothesis (EMH), the case of the Romanian capital market. According to this purpose, our research aims to test the hypothesis of the random walk of the BET and BET-C stock indicators of the Bucharest Stock Exchange and to this end we apply statistical tests to detect whether the capital market in Romania is efficient in the weak form.

Suggested Citation

  • BRATIAN Vasile Radu & TARAN-MOROSAN Adrian, 2010. "Testing The Efficient Market Hypothesis From The Informational Point Of View - The Case Of The Romanian Capital Market," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 53(6), pages 80-85.
    • Handle: RePEc:blg:reveco:v:53.1:y:2010:i:6:p:80-85
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    File URL: http://economice.ulbsibiu.ro/rom/profesori/publicatii/fileRE/RE%206-53-vol1-2010.pdf
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    More about this item

    Keywords

    efficient capital market; random walk; stationarity tests; normal distribution;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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