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TESTING THE EFFICIENT MARKET HYPOTHESIS FROM THE INFORMATIONAL POINT OF VIEW - THE CASE OF THE ROMANIAN CAPITAL MARKET

Vasile Brătian, Adrian Moroșan

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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.

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What this paper is about

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.

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Method / approach

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Available 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.

Key concepts: Romanian, Random walk hypothesis, Efficient-market hypothesis, Stock exchange, Capital market, Economics, Stock market, Financial economics

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