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Testing Efficiency Performance of an Underdeveloped Stock Market

Ibrahim Onour

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Abstract

Market inefficiency has influence on resource allocation, as price signals tend systematically understate or overstate the effects of information transmitted to the trading parties in the market. In this paper a number of statistical tests employed to assess the weak-form efficiency of Khartoum Stock Exchange (KSE) market. The finding of the paper indicates the inefficiency hypothesis cannot be rejected

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Market inefficiency has influence on resource allocation, as price signals tend systematically understate or overstate the effects of information transmitted to the trading parties in the market. In this paper a number of statistical tests employed to assess the weak-form efficiency of Khartoum Stock Exchange (KSE) market. The finding of the paper indicates the inefficiency hypothesis cannot be rejected

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Available abstract

Market inefficiency has influence on resource allocation, as price signals tend systematically understate or overstate the effects of information transmitted to the trading parties in the market. In this paper a number of statistical tests employed to assess the weak-form efficiency of Khartoum Stock Exchange (KSE) market. The finding of the paper indicates the inefficiency hypothesis cannot be rejected

Key concepts: Inefficiency, Efficient-market hypothesis, Stock exchange, Market efficiency, Economics, Stock market, Econometrics, Statistical hypothesis testing

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