Is there a random character in a stock market? Some evidence from a small emerging market

Timotej Jagric, Sebastjan Strasek, Natasa Spes and Vita Jagric

International Journal of Management and Enterprise Development, 2007, vol. 4, issue 6, 652-673

Abstract: In the last decade, the financial industry in Slovenia developed rapidly. Nevertheless, the capital market is, according to our findings, still not efficient. However, the dynamic analysis in our study shows that the market is rapidly approaching the properties of developed markets. By adopting these properties, the Slovenian market will give additional boost to the economic activity and also make it more attractive for small firms. The main challenge for small business is to use these favourable trends and to represent an additional stimulation for further concentration of ownership in the companies listed on the stock exchange.

Keywords: stock markets; Hurst exponent; wavelet analysis; efficient market hypothesis; enterprise; Slovenia; emerging markets; small firms; small business; stock exchange. (search for similar items in EconPapers)
Date: 2007
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