Since 2014
Analysis of Stock Market Efficiency
Economic Journal of Nepal
View Archive Info| Field | Value | |
| Title |
Analysis of Stock Market Efficiency
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| Creator |
Mishra, Basnta Kumar; Nepal Rastriya College, Kathmandu
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| Subject |
Economics
Stock market; Nepal |
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| Description |
This paper examines the weak form of market efficiency of the Nepalese stock market employing autocorrelation test, runs test, variance ratio test, and unit root test on monthly closing prices and market index for the period mid-2003 to mid-2012. The study result reveals that the monthly return series of Nepalese companies listed in Nepal stock exchange, and market return series do not follow any predictable pattern. It suggests that any speculation based on information on past stock price is fruitless. It implies that all information conveyed in stock price in the past are impounded into the current price of the stock. Thus, the opportunity of making abnormal returns based on information on past stock price in the Nepalese stock market is ruled out.The Economic Journal of Nepal, Vol. 35, No. 3, July-September 2012 (Issue N0. 139)
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| Publisher |
Central Department of Economics Tribhuvan University
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| Contributor |
—
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| Date |
2015-09-18
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Identifier |
https://www.nepjol.info/index.php/EJON/article/view/13425
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| Source |
Economic Journal of Nepal; Vol 35, No 3 (2012)
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| Language |
en
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| Coverage |
Nepal
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| Rights |
Copyright (c) 2015 Economic Journal of Nepal
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