Effect of Policy Reforms on Market Efficiency: Evidence from Dhaka Stock Exchange (DSE)

Md. Mahmudul Alam (), Shakila Yasmin, Mahmudur Rahman and Gazi Salah Uddin

No m5gsr, OSF Preprints from Center for Open Science

Abstract: The paper tries to find evidence supporting the impact of continuous policy reforms on the market efficiency on the Dhaka Stock Exchange (DSE). Different policies formed/reformed from 1994 to 2005 were categorized in eleven groups depending on their time of issue and subject matter. To get the result, both non-parametric test (Kolmogrov-Smirnov normality test and Run test) and parametric test (Auto-correlation test, Auto-regression) has been performed. Analyses were done for each policy group, and it is found that formed/reformed policies for DSE during the study period failed to improve the market efficiency even in the weak form level

Date: 2019-02-23
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:m5gsr

DOI: 10.31219/osf.io/m5gsr

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