Efficient Markets Hypothesis and the Emerging Capital Market in Sri Lanka: Evidence from the Colombo Stock Exchange - A Note

2001 ◽  
Vol 28 (1-2) ◽  
pp. 249-261 ◽  
Author(s):  
Sarath P. Abeysekera
Keyword(s):  
Sri Lanka ◽  
Capital Market ◽  
Stock Exchange ◽  
Efficient Markets ◽  
Efficient Markets Hypothesis

The Rise (and Retreat) of a Market: English Joint Stock Shares in the Eighteenth Century

1981 ◽  
Vol 41 (3) ◽  
pp. 559-577 ◽  
Author(s):  
Philip Mirowski
Keyword(s):  
Resource Allocation ◽  
Eighteenth Century ◽  
Economic History ◽  
Stock Exchange ◽  
Historical Context ◽  
Efficient Markets ◽  
Share Prices ◽  
Government Interference ◽  
Efficient Markets Hypothesis ◽  
Unambiguous Conclusion

The market for joint stock shares in eighteenth-century England is often portrayed as an underdeveloped and flawed mechanism for resource allocation, which in turn is cited to explain the paucity of shares actually traded. This article questions that interpretation, both by inquiring whether the requisite institutions for a functional market were present, and by constructing a new time series of eighteenth-century share prices and exposing them to a test of the efficient markets hypothesis. Because the stock exchange is found to exhibit most of the conventionally defined characteristics of an effective market, the article concludes by outlining the case for skepticism with respect to a common theme in economic history: the idea that the purported superiority of market resource allocation over alternative non-market forms (in the absence of rigidities due to underdevelopment or government interference) is an unambiguous conclusion in every historical context.

scholarly journals ANALISIS REAKSI PASAR MODAL ATAS PERISTIWA KEBIJAKAN AMNESTI PAJAK 2016 (Studi Efisiensi Pasar Modal Indonesia)

2018 ◽  
Vol 6 (2) ◽  
pp. 137
Author(s):  
Taufika Nur Widyasari ◽  
Ifada Faila Suffa ◽  
Naili Amalia ◽  
Aflit N Praswati
Keyword(s):  
Capital Market ◽  
Stock Exchange ◽  
Government Policies ◽  
Efficient Markets ◽  
Social Variables ◽  
Economic Stability ◽  
Private Companies ◽  
Tax Amnesty ◽  
The Government

Capital market is a financial instrument that trades securities in the form of bonds and long-term equity issued by the government or private companies that will be bought by investors through the brokers. Capital markets can be affected by changes and developments in economic, political and social variables that will impact on the economic stability of a country. In addition, economic stability in a country can be influenced by government policies, one of which is a tax amnesty program that has been enacted since 2016 by legalizing Law no. 11 Year 2016 on Forgiveness of Taxes. This policy can bring reaction to all companies that listed on Indonesia Stock Exchange (IDX). If an accurate quick reaction occurs to achieve a new equilibrium price that fully reflects the information available, then this market conditions are called efficient markets. This research will discuss about the analysis of capital market’s reaction that happened after the government policy about tax amnesty 2016 in Indonesia Stock Exchange (BEI).

scholarly journals An Investigation of the Weak Form of the Efficient Markets Hypothesis for the Kuwait Stock Exchange

2018 ◽  
Vol 17 (1) ◽  
pp. 1-28 ◽  
Author(s):  
Hesham I. Almujamed ◽  
Suzanne G. M. Fifield ◽  
David M. Power
Keyword(s):  
Stock Exchange ◽  
Weak Form ◽  
Efficient Market Hypothesis ◽  
Share Price ◽  
Efficient Markets ◽  
Efficient Market ◽  
Emerging Stock Markets ◽  
Kuwait Stock Exchange ◽  
Efficient Markets Hypothesis ◽  
Filter Rules

This article investigates the weak form of the efficient market hypothesis (EMH) for the Kuwait Stock Exchange (KSE). In particular, it tests whether share returns on the KSE exhibit patterns which may be used to predict future share price changes. Ten filter rules are tested on weekly data for 42 firms over the period 1998–2011. The results suggest that the KSE was not weak-form efficient because patterns and trends were present in security prices. In addition, the results are consistent with the substantive literature which has argued that emerging stock markets are informationally inefficient, such as Fifield, Power and Sinclair (2005, 2008) and Xu (2010) and particularly those early studies of Al-Shamali (1989) and Al-Loughani and Moosa (1999) that looked at trading rules for the KSE.

ICT and the Efficient Markets Hypothesis

2008 ◽  
pp. 3623-3633
Author(s):  
Andrea J.A. Roofe
Keyword(s):  
Qualitative Methods ◽  
Financial Markets ◽  
Capital Market ◽  
Technological Development ◽  
Efficient Markets ◽  
Preliminary Attempt ◽  
Lack Of Information ◽  
Efficient Markets Hypothesis ◽  
The Relationship ◽  
The Capital Market

This article represents a preliminary attempt to indentify the variables influencing the relationship between technological development and efficiency in the financial markets of a Caribbean economy. The analysis uses qualitative methods only. From the late 1980s, Kitchen (1988) observed, “… the major inefficiency in the capital market is the lack of information…” (p. 48).

ICT and the Efficient Markets Hypothesis

2005 ◽  
pp. 353-359
Author(s):  
A.J.A. Roofe
Keyword(s):  
Qualitative Methods ◽  
Financial Markets ◽  
Capital Market ◽  
Technological Development ◽  
Efficient Markets ◽  
Preliminary Attempt ◽  
Lack Of Information ◽  
Efficient Markets Hypothesis ◽  
The Relationship ◽  
The Capital Market

This article represents a preliminary attempt to indentify the variables influencing the relationship between technological development and efficiency in the financial markets of a Caribbean economy. The analysis uses qualitative methods only. From the late 1980s, Kitchen (1988) observed, “… the major inefficiency in the capital market is the lack of information…” (p. 48).

IMPLIKASI RETURN ON EQUITY, RETURN ON ASSET, NET INCOME& DEBT TO EQUITY RATIO TERHADAP RETURN SAHAM PADA PERUSAHAAN PROPERTI

2018 ◽  
Vol 3 (1) ◽  
pp. 59-66
Author(s):  
Muhammad Richo Rianto
Keyword(s):  
Data Analysis ◽  
Capital Market ◽  
Stock Return ◽  
Stock Exchange ◽  
Secondary Data ◽  
Net Income ◽  
Return On Equity ◽  
Property Companies ◽  
Equity Ratio

The research aims to analyze the effect of  Return On Equity (ROE ), Return On Asset (ROA), Net Income (NI) and Debt to Equity  (DER) on partially and simultaneously to Return Investment (RI) in property companies. Data were collected from secondary data in the financial documentation of Indonesian Capital Market  Directory ( ICMD ) and also can download in the official website of the Indonesian Stock Exchange www. IDX.co.id. Data analysis was using Eviews version  7.1. The results show that: ROE, ROA, NI, and DER simultaneously significant effect on the property company’s stock return, but partially only ROE and DER variable that significantly effects on stock return. Keywords: Return on Equity, Return on Asset, Net Income, Debt to Equity, Return Investment

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