Izvorni znanstveni članak
The Random Walk Hypothesis and the Evidence from the Amman (Jordan) Stock Exchange
Aktham Maghyereh
; Hashemite University, College of Economics and Administrative Sciences, Jordan
Sažetak
This study investigates the validity of the random walk model for an emerging stock market (Amman Stock Exchange, ASE). The study examines for all assumptions implied by the random walk model using aggregate daily data. The results suggest that the behaviour of the ASE return series is inconsistent with the random walk model, which implies informationally inefficient.
Ključne riječi
emerging markets; non-linear dependence; RWM; securities; trading
Hrčak ID:
35599
URI
Datum izdavanja:
1.7.2003.
Posjeta: 2.525 *