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Romanian Capital Market: Random Walk Or Weak Form Of Inefficiency?

Author

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  • Ana-Maria CALOMFIR (METESCU)

    (Romanian Academy, Bucharest, Romania)

Abstract

A continuous and ongoing effort for the investment and academic area represents the possibility of shaping the financial assets’s behavior for obtaining forecasts with a high degree of accuracy with respect to the future rates of return. The goal of this paper is to consider forecasting the fluctuations of the security titles, starting from the hypothesis that those are influenced by past values; of course, this is not a complete approach, as in every moment the amount of data that an investor may possess is much richer than the amount of historical rates of return, but it represents a starting point for modeling the behavior of financial assets. The first condition that should be verified regarding Romanian capital market is weak-form market efficiency.

Suggested Citation

  • Ana-Maria CALOMFIR (METESCU), 2015. "Romanian Capital Market: Random Walk Or Weak Form Of Inefficiency?," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 7(4), pages 23-31, December.
    • Handle: RePEc:rom:mrpase:v:7:y:2015:i:4:p:23-31
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    References listed on IDEAS

    as
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    3. Chun, Rodney M., 2000. "Compensation vouchers and equity markets: Evidence from Hungary," Journal of Banking & Finance, Elsevier, vol. 24(7), pages 1155-1178, July.
    Full references (including those not matched with items on IDEAS)

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