TestingOf Efficient Market Hypothesis : Astudy On Semi -Strong Form Efficiency Of Indianstockmarket
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 5
Abstract
The main objectives of the present study is to examining semi- strong form efficiency of Indian stocks market by studying the effect of corporate information release on the price and trading volume of shares in the stock market.In an efficient market,when new piece of information is added to the market its impact will instantaneously reflected in the share price . So there is no scope for earning abnormal return based on new piece of information. Event study is used to measure the effect of an economics event on the value of firm. Here the semi strong form efficiency of the stock market is tested by analyzing the impact of corporate event announcement like bonus issue and stock split on the value of the firm. From the study it is found that the abnormal return is statistically insignificant and Indian capital market is efficient in semi- strong form.
Authors and Affiliations
Dr. Satheesh . E. K, DeanVidya A
Keywords
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- EP ID EP400555
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