Informational Efficiency Tests on the Romanian Stock Market: A Review of the Literature
Victor Dragotă () and
Dragos Stefan Oprea
The Review of Finance and Banking, 2014, vol. 06, issue 1, 015-028
The Efficient Market Hypothesis is still a 'hot' topic in financial economics. This paper provides a review of the empirical results obtained in the investigation of the Romanian stock market’s informational efficiency. Tests on the predictability of returns suggest that the Romanian stock market has a low level of efficiency. Furthermore, the impact of new information is more intense before and after its release. Moreover, some papers put into question the coincidence between asset prices and their intrinsic values.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed
Downloads: (external link)
http://www.rfb.ase.ro/articole/ARTICOL_II_nr6.pdf Full text (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:rfb:journl:v:06:y:2014:i:1:p:015-028
Access Statistics for this article
The Review of Finance and Banking is currently edited by Victor Dragota; Bogdan Negrea
More articles in The Review of Finance and Banking from Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante Strada Mihai Eminescu nr.13-15, sector 1, Bucuresti, Romania. Contact information at EDIRC.
Bibliographic data for series maintained by Tatu Lucian ().