alexa Validity of Weak Form Efficiency in European Stock Market
ISSN: 2167-0234

Journal of Business & Financial Affairs
Open Access

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Research Article

Validity of Weak Form Efficiency in European Stock Market

Rekha Gupta*

Assistant Professor, Department of Commerce, Maharana Partap Govt. College Amb, H.P, India

*Corresponding Author:
Rekha Gupta
Assistant Professor
Department of Commerce
Maharana Partap Govt. College Amb
H.P, India
Tel: 9418593231
E-mail: [email protected]

Received Date: January 28, 2016; Accepted Date: February 18, 2017; Published Date: February 28, 2017

Citation: Gupta R (2017) Validity of Weak Form Efficiency in European Stock Market. J Bus Fin Aff 6: 250. doi: 10.4172/2167-0234.1000250

Copyright: © 2017 Gupta R. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

 

Abstract

In this paper weak form efficiency is tested in ten European country indices. For this purpose Run test and Autocorrelation test are used. Run test clearly supported the dependent behavior of majority of countries. Run test has inherent weakness as only sign are conceded not how much amount of increase or decrease. The coefficients are obtained for 1-16 time lags to examine results for varying periodicity. Serial correlation coefficient statistics indicates the majority of indices are not in weak form efficiency. This study also shows that significant auto correlations are converted into insignificant with increases time lags.

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