Theoretical and Applied Economics
No. 9 / 2012 (574)
Testing weak form informational efficiency on the Romanian capital market
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.
Keywords: capital market; stock price; weak informational efficiency; unit root tests; excessive earnings.
Contents
- Innovative clusters: a solution for the economic
development of Romania
Mihaela-Cornelia DAN
- Corruption, democracy and bureaucracy
Aviral Kumar TIWARI
- Testing weak form informational efficiency
on the Romanian capital market
Andrei STĂNCULESCU
Eugen MITRICĂ
- The impact of labour market imbalances
on regional disparities in the post-crisis context
Gina Cristina DIMIAN
- Laggards or performers? CEE vs. PIIGS countries’
catch-up with the Euro Area in the last ten years
Cristina TATOMIR
Ileana ALEXE
- Economy of Referential Preferences
A new mathematical approach
for choice theory and general equilibrium
Teycir GOUCHA
- The industry of copies – obstacle for the economic
recovery. Examples from the markets
Daniel BELINGHER
- The road to the new economy
Alina GINGHINĂ
- Globalization and the identity dilemma
Alina-Petronela NEGREA
- Economic fundamentals:
between consecration and contestation
Monica-Gabriela GHERMAN