The findings suggests that with proper control over the quality of the data and the use of a larger number of data observations, the random walk model can be a good description of successive price returns in an emerging stock market.This has been shown to hold irrespective of whether bid, ask, or transaction returns are used.Tags: Anthony Morfa ThesisFacts About Egypt For Kids HomeworkHire Someone To Do Your EssayEssay Conflict Between Hamlet And ClaudiusStatics Homework SolutionsNationalism In Germany EssayProblem Solving Homework
This study extends evidence on the efficiency of stock markets in developing countries using data from the Nairobi Stock Exchange (NSE).
Previous evidence from studies on stock markets in developing countries, and NSE in particular, is inconclusive.
This is contrary to most of the earlier evidence that the random walk model does not apply in such markets.
The results obtained are therefore consistent with the weak-form of the EMH.
Yafeng Qin, while the last study is my individual work.
Thesis On N Stock Market
Therefore as individual papers, it should be “we” instead of “I”.
The quality and quantity of data are improved through the creation of a computer database.
The study then analyses all three price series on the exchange: The Bid, Ask and Transaction prices.
I1 give these technical market indicators the benefit of the doubt, but even then I find little evidence that they predict stock market returns.
Many so-called return predictability anomalies disappear over time because investors arbitrage profits away through their trading. The third study investigates what would happen if a completely new technical trading rule – Bollinger Bands – appeared that investors had never used before but which became more popular over time.