Sign-In
Cart
Efficient Market Hypothesis: Weak Form Efficiency: An examination of Weak Form Efficiency
Paperback
ISBN13: 9789925755608
Publisher: Library of Cyprus
Published: Feb 23 2019
Pages: 116
Weight: 0.63
Height: 0.24 Width: 8.50 Depth: 11.00
Language: English
EFFICIENT MARKET HYPOTHESIS
An Advanced Study of Weak Form Efficiency
Can past market behaviour help predict future stock returns, or are price movements essentially unpredictable? This question lies at the heart of one of the most influential and contested theories in financial economics: the Efficient Market Hypothesis (EMH).
Developed principally through the work of Eugene Fama, the EMH examines the extent to which market prices incorporate available information. Its implications extend beyond academic theory. Market efficiency affects how investors approach security analysis, whether trading strategies can consistently generate abnormal returns, and the extent to which historical price patterns contain useful information about future market behaviour.
This book provides a structured examination of the Efficient Market Hypothesis, progressing from the foundations of capital markets, security analysis and the random walk hypothesis to the theory and empirical testing of market efficiency. The weak, semi-strong and strong forms of efficiency are considered alongside important criticisms of the EMH and alternative perspectives, including behavioural finance.
Particular emphasis is placed on weak-form market efficiency: the proposition that current prices already incorporate information contained in historical prices and returns. The book examines the statistical tools used to test this proposition and considers the methodological difficulties involved in distinguishing genuine market inefficiency from random variation in financial data.
A central focus is the day-of-the-week effect, one of the best-known calendar anomalies in financial markets. If returns systematically differ according to the day of the week, historical information may possess predictive value, potentially conflicting with the random walk hypothesis and weak-form efficiency.
The theoretical discussion is subsequently put into practice through empirical research based on the Cyprus Stock Exchange, a small European capital market. Two research approaches and distinct periods are examined to investigate the random walk hypothesis, the presence of day-of-the-week effects, and the evidence for or against weak-form market efficiency.
By combining financial theory, statistical methodology and applied empirical research, Efficient Market Hypothesis: An Advanced Study of Weak Form Efficiency is designed for readers seeking to move beyond a basic introduction to market efficiency and understand both how the hypothesis is tested and what empirical evidence can-and cannot-tell us about the behaviour of financial markets.
Also in
Investing & Finance
How to Invest $50-$5,000: The Small Investor's Step-By-Step Plan for Low-Risk Investing in Today's Economy
Dunnan, Nancy
Paperback
Planet Money: A Guide to the Economic Forces That Shape Your Life
Hosts of Npr's Planet Money
Mayyasi, Alex
Hardcover
Money Unlocked: How to Make It, Keep It and Multiply It: The New York Times Bestseller
Lee, John
Paperback
The Millionaire Next Door: The Surprising Secrets of America's Wealthy
Stanley, Thomas J., PH. D.
Danko, William D., PH. D.
Paperback
J.K. Lasser's Your Income Tax 2027: For Preparing Your 2026 Tax Return
J K Lasser Institute
Paperback
I Will Teach You to Be Rich: No Guilt. No Excuses. Just a 6-Week Program That Works (Second Edition)
Sethi, Ramit
Paperback
The New AI Stock Edge: How the Pros Spot Tomorrow's IPO Leaders Before the Crowd
Smith, William K.
Hardcover
Anti-Fascist Economics: In Defense of Affordability, Dignity, and Democracy
Weber, Isabella
Hardcover
Money to Burn: The Unvarnished Truth about Leon Black, Apollo, and the Rise of a New Wall Street
Cohan, William D.
Hardcover
Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger
Munger, Charles T.
Hardcover
The Investor's Odyssey: Resisting the Sirens and Playing the Long Game
Mayer, Christopher W.
Hardcover
Market Wizards: The Next Generation: The World's Top Young Traders Reveal How They Beat the Market
Schwager, Jack D.
Coyle, George F.
Hardcover
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
Bogle, John C.
Hardcover
How to Invest in Gold and Silver: A Complete Guide with a Focus on Mining Stocks
Durrett, Don
Paperback
The Intelligent Investor Third Edition: The Definitive Book on Value Investing
Graham, Benjamin
Zweig, Jason
Paperback
La Psicología del Dinero: 18 Claves Imperecederas Sobre Riqueza Y Felicidad / The Psychology of Money
Housel, Morgan
Paperback
How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition
O'Neil, William J.
Paperback
The Price of Democracy: The Revolutionary Power of Taxation in American History
Williamson, Vanessa S.
Hardcover
J.K. Lasser's Your Income Tax 2026: For Preparing Your 2025 Tax Return
J K Lasser Institute
Paperback
The Age of Surveillance Capitalism: The Fight for a Human Future at the New Frontier of Power
Zuboff, Shoshana
Paperback
J.K. Lasser's 1001 Deductions and Tax Breaks 2027: Your Complete Guide to Everything Deductible
Weltman, Barbara
Paperback
A Beginner's Guide to the Stock Market: Everything You Need to Start Making Money Today
Kratter, Matthew R.
Paperback
The World for Sale: Money, Power, and the Traders Who Barter the Earth's Resources
Blas, Javier
Farchy, Jack
Paperback
The Making of a Permabear: The Perils of Long-Term Investing in a Short-Term World
Grantham, Jeremy
Hardcover
The Compounders: From Small Acquisitions to Giant Shareholder Returns
Dybvad, Oddbjørn
Nyland, Kjetil
Hadziefendic, Adnan
Paperback
Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success
Pfau, Wade
Paperback
The Black Swan: Second Edition: The Impact of the Highly Improbable: With a New Section: On Robustness and Fragility
Taleb, Nassim Nicholas
Paperback
One Up on Wall Street: How to Use What You Already Know to Make Money in the Market
Lynch, Peter
Paperback
El Inversor Inteligente: Un Libro de Asesoramiento Práctico = The Intelligent Investor
Graham, Benjamin
Paperback
Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes
Wheelwright, Tom
Paperback
Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger
Munger, Charles T.
Paperback
Trading: Technical Analysis Masterclass: Master the financial markets
Schlotmann, Rolf
Czubatinski, Moritz
Paperback
HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company
Yudkoff, Royce
Ruback, Richard S.
Paperback
The Coffee Can Investor: A Stock-Picker's Journey to Build Generational Wealth
Khemlani, Neeraj
Hardcover
The Intelligent Investor, 3rd Ed.: The Definitive Book on Value Investing
Zweig, Jason
Graham, Benjamin
Hardcover
The Customer Service Survival Kit: What to Say to Defuse Even the Worst Customer Situations
Gallagher, Richard
Paperback
A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation
Nations, Scott
Paperback
Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean
Knight, Joe
Berman, Karen
Hardcover
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Michalowicz, Mike
Hardcover
Maximize Your Retirement: The Only Book You'll Ever Need to Retire Prosperous and Worry-Free
Oh, Jae
Paperback
Your Retirement Sketchbook: 125 Retirement Planning Lessons from Financial Experts
Treichel, Bonnie
Hopkins, Jamie P.
Paperback
J.K. Lasser's Small Business Taxes 2027: Your Complete Guide to a Better Bottom Line
Weltman, Barbara
Paperback
Quality Investing: Owning the Best Companies for the Long Term
Eide, Torkell T.
Hargreaves, Patrick
Cunningham, Lawrence a.
Hardcover
The Rules That Make Us: How Culture Shapes the Way We Act, Think, Believe, and Buy
Sweet, Oliver
Hardcover
Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life
Sutherland, Rory
Paperback
Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better
Alden, Lyn
Paperback
The Infographic Guide to Personal Finance: A Visual Reference for Everything You Need to Know
Lariviere, Elisabeth
Cagan, Michele
Paperback
The Tax and Legal Playbook: Game-Changing Solutions to Your Small Business Questions
Kohler, Mark
Paperback
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor
Marks, Howard
Hardcover
Friends That Invest: Your Guide to Financial Independence Through Shares and Stocks
Kaur, Simran
Paperback
Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions
Ariely, Dan
Paperback
No Loose Ends: The Smart & Slightly Morbid Guide to Estate Planning & End-Of-Life Tasks
Zuckerman, Adam
Hardcover
El Dinero No Es El Problema, Tú Lo Eres - Money is Not the Problem Spanish
Douglas, Gary M.
Heer, Dain
Paperback
Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
Douglas, Mark
Hardcover
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
Taleb, Nassim Nicholas
Paperback
Trade Like a Stock Market Wizard: How to Achieve Superperformance in Stocks in Any Market
Minervini, Mark
Hardcover
Our Dollar, Your Problem: An Insider's View of Seven Turbulent Decades of Global Finance, and the Road Ahead
Rogoff, Kenneth
Paperback
Small Time Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes, and Stay Out of Trouble
Kamoroff, Bernard B.
Paperback
The New Money Strategy: The Modern Guide to Rational, Long-Term Investing
Van Der Kolk, Brandon
Hardcover
The Currencies of Wellness: A Field Guide to the Unexpected Ways Brands Can Shape Everyday Well-Being
Nichols, Tricia
Paperback
Investing 101: From Stocks and Bonds to Etfs and Ipos, an Essential Primer on Building a Profitable Portfolio
Cagan, Michele
Hardcover
The Boring Business Revolution: Why the Next Generation of Millionaires Won't Build Businesses. They'll Buy Them.
Newerls, Ramel
Hardcover
Payments Systems in the U.S.: A Guide for the Payments Professional
Jones, Russ
Loftesness, Scott
Benson, Carol Coye
Paperback
The Million-Dollar Financial Services Practice: A Proven System for Becoming a Top Producer
Mullen Jr, David J.
Paperback
The Millionaire Next Door: The Surprising Secrets of America's Wealthy
Danko, William D.
Stanley, Thomas J.
Hardcover
Stop Making Stupid Investments: 7 Rules to Avoid the Hype and Build Real Wealth
Leiter, David
Hardcover
Our Dollar, Your Problem: An Insider's View of Seven Turbulent Decades of Global Finance, and the Road Ahead
Rogoff, Kenneth
Hardcover
Masters of the Universe: Winning Strategies of America's Greatest Dealmakers
Kadlec, Daniel J.
Paperback
Understanding Living Trusts(R): How You Can Avoid Probate, Keep Control, Save Taxes, and Enjoy Peace of Mind
Schumacher, Vickie
Paperback
Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud: The Basis for the Documentary Everyone Is Lying to You for Money
Silverman, Jacob
McKenzie, Ben
Paperback
The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism
Mattei, Clara E.
Paperback
Sideways: Using the Power of Technical Analysis to Profit in Uncertain Times
Richards, Keith G.
Paperback
The Lords of Easy Money: How the Federal Reserve Broke the American Economy
Leonard, Christopher
Paperback
Financial Literacy for All: Disrupting Struggle, Advancing Financial Freedom, and Building a New American Middle Class
Bryant, John Hope
Paperback
The Winner's Curse: Behavioral Economics Anomalies, Then and Now
Imas, Alex
Thaler, Richard H.
Hardcover
Wired on Wall Street: The Rise and Fall of Tipper X, One of the Fbi's Most Prolific Informants
Tom Hardin
Hardcover
The Mental Game of Trading: A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline
Tendler, Jared
Paperback
Rich Family Smart Family: Raise Your Family's Financial IQ and Take Control of Your Future
Kiyosaki, Robert
Paperback
The Investing Mind: A Guide to the Principles and Processes of Successful Investing
Mauboussin, Michael J.
Hardcover
Investment Valuation, University Edition: Tools and Techniques for Determining the Value of Any Asset
Damodaran, Aswath
Paperback
Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't
Feroldi, Brian
Paperback
Mastering Private Equity: Transformation Via Venture Capital, Minority Investments and Buyouts
Zeisberger, Claudia
White, Bowen
Prahl, Michael
Hardcover
The Complete Turtletrader: How 23 Novice Investors Became Overnight Millionaires
Covel, Michael W.
Paperback
The Madness of Markets: Why Smart Investors Make Crazy Decisions--And How to Exploit Them
Edmans, Alex
Hardcover
The Little Book of Valuation: How to Value a Company, Pick a Stock, and Profit
Damodaran, Aswath
Hardcover
You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits
Greenblatt, Joel
Paperback
The World for Sale: Money, Power, and the Traders Who Barter the Earth's Resources
Blas, Javier
Farchy, Jack
Hardcover
The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing
Turner, Brandon
Paperback
SEVENTEEN TO MILLIONAIRE You're Seventeen. You're Canadian. You wanna be rich. Let's do this.
Price, Douglas
Paperback
The All-Weather Retirement Portfolio: Your Post-Retirement Investment Guide to a Worry-Free Income for Life
Thurman, Randy L.
Hardcover
How I Invest My Money Volume Two: More Finance Experts Reveal How They Save, Spend, and Invest
Portnoy, Brian
Paperback
As a Man Thinketh Complete and Annotated Includes Commentary, Historical Context and the Life of James Allen
Allen, James
D. Orwell, Ollie
Paperback