The Analysis of the Capital Market Efficiency

Gabriela-Victoria Anghelache, Andreea NEGRU (ciobanu) and Catalina Claudia Sava
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Gabriela-Victoria Anghelache: Academy of Economic Studies, Bucharest
Andreea NEGRU (ciobanu): Academy of Economic Studies, Bucharest
Catalina Claudia Sava: Academy of Economic Studies, Bucharest

Romanian Statistical Review Supplement, 2012, vol. 60, issue 4, 60-63

Abstract: The efficiency of the capital market aims the relation existing between the mechanism of the market prices forming and the existing information on the market at the respective moment. According to the theory of the years '60, a market may be considered as efficient if the prices of the transacted financial assets on the market incorporate entirely the available information, either public or private. The efficiency of the capital market is a sine qua non condition for the efficient allocation of the capitals within the economy and represents a fundamental hypothesis of the classical methods of the evaluation of the financial assets (Markowitz, CAPM etc).

Keywords: capital market; efficiency; portofolio; Treynor-Black model; placement (search for similar items in EconPapers)
JEL-codes: G14 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:rsr:supplm:v:60:y:2012:i:4:p:60-63

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