Testing the Weak-Form Efficient Market Hypothesis: Using CNX Media from the Emerging National Stock Exchange
Journal Title: International Journal of Engineering Sciences & Research Technology - Year 30, Vol 3, Issue 3
Abstract
Capital market is one of the significant phases of every financial institution and now it’s playing a strategic role in a country’s economic growth. On the other hands, it gives flexibility for investor to choose investment based on their preference. Today India boasts of being the third largest television market in the world. Entertainment Industry in India has registered an explosive growth in last two decades making it one of the fastest growing industries in India. The purpose of this study is to test the Weak Form Efficient Market Hypothesis in National Stock Exchange by taking the Daily closing prices of 5 media companies in CNX Media. The three conventional ways: Augmented Dickey Fuller Test, Autocorrelation and run-test are used to prove the evidences of weak form market efficiency. The evidences have confirmed that during 2013, National Stock Exchanges is not efficient in a weak form.
Authors and Affiliations
Ms. K. Hemalatha
Keywords
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