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

Vasile Radu Bratian and Adrian Moroşan
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Vasile Radu Bratian: Lucian Blaga University of Sibiu

Revista Economica, 2010, vol. 53.1, issue 6, 80-85

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.

Keywords: efficient capital market; random walk; stationarity tests; normal distribution (search for similar items in EconPapers)
JEL-codes: G14 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:53.1:y:2010:i:6:p:80-85

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