TESTING OF THE WEAK FORM MARKET EFFICIENCY THEORY FOR BORSA ISTANBUL: BANKING SECTOR CASE
Journal Title: The Journal of International Social Research - Year 2016, Vol 9, Issue 43
Abstract
Bye the globalization, the theory of financial efficiency has become an important issue among market actors. The most important reason of this situation is to be believed that Markets which returns of share are reflected all information. Under the weak-form efficiency assumptions all past price were reflected with current price and it isn’t acquiring upon the normal return to use with past price activity in markets. In this paper, weak form efficiency was tested for Borsa Istanbul by using Bankıng Index and selected bankıng shares. During the empirical analysis, random walk hypothesis was considered. According to findings, selected time series have a unit root at level which means existence of random walk theory was proven.
Authors and Affiliations
Utku ALTUNÖZ
Keywords
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- EP ID EP250959
- DOI 10.17719/jisr.20164317732
- Views 165
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