Stock Markets and their informational inefficiencies - the BSE case
The paper deals with the issue of stock market informational inefficiency differentiating between the main signals which indicate inefficiency manifestation within these markets. We discuss two main sources of inefficiency, price momentum and the mean reverting process, insisting on the causes of these departures. Also, we discuss the main stock market seasonal anomalies (the January effect, week end effect and the holiday effect) in the same time with those related tot the issuers’ characteristics (the size effect, value and growth stocks) keeping in touch with the main empirical results found in the case of the Bucharest Stock Exchange (BSE). In the end, the prediction capacity of different indicators to foresee future price evolution is carefully analyzed.
Volume (Year): 1 (2008)
Issue (Month): 8 (December)
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