On the Efficiency of Emerging Stock Markets in Central Europe
Author: Stefan Kolek
Publisher:
Published: 2002
Total Pages: 145
ISBN-13: 9783832210281
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Author: Stefan Kolek
Publisher:
Published: 2002
Total Pages: 145
ISBN-13: 9783832210281
DOWNLOAD EBOOKAuthor: Svitlana Voronkova
Publisher:
Published: 2003
Total Pages: 21
ISBN-13:
DOWNLOAD EBOOKAuthor: Jan Hanousek
Publisher:
Published: 2003
Total Pages:
ISBN-13:
DOWNLOAD EBOOKThis paper investigates the possibility that newly-emerging equity markets in Central Europe exhibit semi-strong form efficiency such that no relationship exists between lagged values of changes in economic variables and changes in equity prices. We find that while there are connections between the real economy and equity market returns in Poland and Hungary, these links occur with lags, suggesting the possibility of profitable trading strategies based on public information and rejecting semi-strong efficiency. For the Czech Republic the situation is more complex. In recent periods, little connection exists between lagged economic variables and equity market returns. Although this finding might be viewed as consistent with semi-strong efficiency, in fact there is also little connection between current economic values and stock prices in the Czech Republic. Thus, instead of processing information efficiently, the Czech market appears to be entirely divorced from the real world. It is suggested that the difference in the current status of these markets may be due to the different methods by which they were created.
Author: Wing-Keung Wong
Publisher: Mdpi AG
Published: 2022-02-17
Total Pages: 232
ISBN-13: 9783036530802
DOWNLOAD EBOOKThe Efficient Market Hypothesis believes that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear again without any warning. A Special Issue on "Efficiency and Anomalies in Stock Markets" will be devoted to advancements in the theoretical development of market efficiency and anomaly in the Stock Market, as well as applications in Stock Market efficiency and anomalies.
Author: David E. Allen
Publisher:
Published: 2010
Total Pages:
ISBN-13:
DOWNLOAD EBOOKThis paper examines the European investment implications of the recent European Union (EU) expansion to encompass former Eastern bloc economies. What are the risk and return characteristics of these markets pre- and post-EU? What are the implications for investors within the Euro zone? Should investors diversify outside the Central and Eastern Europe (CEE)? The former Eastern bloc economies constitute emerging markets which typically offer attractive risk-adjusted returns for international investors. In this paper, we explore a number of aspects of this important issue and their implications for CEE based investors, culminating in a Markowitz efficient frontier analysis of these markets pre- and post-EU expansion.
Author: Morten Balling
Publisher: Routledge
Published: 2004-08-02
Total Pages: 408
ISBN-13: 1134292708
DOWNLOAD EBOOKThe countries of Central and Eastern Europe have been through a profound transition process for more than a decade now. The financial sectors and markets in the region have been subject to major structural reforms including privatization, liberalization and the acquisition by foreign banks of controlling interests in local financial institutions. This important new book includes papers that chart this process. Topics discussed include the implications of future EU membership, and the strategies pursued by the World Bank and International Monetary Fund.
Author: Calum A. J. Middleton
Publisher:
Published: 2006
Total Pages:
ISBN-13:
DOWNLOAD EBOOKAuthor: Andrew Worthington
Publisher:
Published: 2003
Total Pages: 14
ISBN-13:
DOWNLOAD EBOOKAuthor: Ken Morita
Publisher: Routledge
Published: 2017-11-30
Total Pages: 296
ISBN-13: 1351159399
DOWNLOAD EBOOKIs the economic reform of Central Europe influenced by or an influence upon capital markets? Where does globalization fit in? Ken Morita's pioneering work investigates the relationship between the systemic transition of Central European economies and capital markets, in particular the commodity futures markets and speculation.
Author: Lukasz Prorokowski
Publisher:
Published: 2009
Total Pages:
ISBN-13:
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