How the Change of Governing Party Influences the Efficiency of Financial Market in Poland

Dorota Witkowska () and Krzysztof Kompa ()
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Dorota Witkowska: University of Lodz
Krzysztof Kompa: SGGW w Warszawie

Dynamic Econometric Models, 2017, vol. 17, 147-159

Abstract: Financial market seems to be sensitive to political changes, especially when the change of governing party is connected with essential changes of the economic development concepts. Such situation took place in Poland in 2015, as a result of the presidential and parliamentary elections. The aim of our research is to investigate the changes occurred on the market, represented by some stable growth open mutual funds, and stock indexes: WIG and TBSP. Analysis is provided applying single index and CAPM models, classical investment performance measures, and statistical interference.

Keywords: stable growth open mutual funds; investment efficiency; Sharpe model; CAPM; Sharpe; Treynor and Jensen ratios (search for similar items in EconPapers)
JEL-codes: C12 G11 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:cpn:umkdem:v:17:y:2017:p:147-159

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