Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE)
<p class="BodyA">The study tests the weak form efficiency of the Colombo Stock Exchange (CSE) and the consistency of the concept. In this study, daily market closing index values of (All Share Price Index) ASPI of CSE for five years, from June 2010 to June 2015, without adjustments,...
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Faculty of Commerce & Manangement Studies, University of Kelaniya
2018-07-01
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doaj-3fd61c1260f64516be8374a98d4cf5872020-11-25T00:17:35ZengFaculty of Commerce & Manangement Studies, University of KelaniyaKelaniya Journal of Management2279-14692448-92982018-07-0171132510.4038/kjm.v7i1.75515694Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE)P. N. D. Fernando0A. L. Gunasekara1University of KelaniyaUniversity of Kelaniya<p class="BodyA">The study tests the weak form efficiency of the Colombo Stock Exchange (CSE) and the consistency of the concept. In this study, daily market closing index values of (All Share Price Index) ASPI of CSE for five years, from June 2010 to June 2015, without adjustments, have been selected as the sample. Both parametric tests and non-parametric tests have been used in this study. The evidence presented in this study confirms that CSE is not weak form efficient within the sample period and is consistent with the findings of previous studies. Therefore, the fact that Efficient Market Hypothesis as a dynamic concept is debatable as studies over the past have consistently confirmed that CSE is not in weak form efficient, although the efficiency of most markets is dynamic. <em> </em><strong><em></em></strong></p>https://kjm.sljol.info/articles/7551Colombo stock exchange, ASPI, Weak form efficiency, Dynamic concept, Efficient market hypothesis |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
P. N. D. Fernando A. L. Gunasekara |
spellingShingle |
P. N. D. Fernando A. L. Gunasekara Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE) Kelaniya Journal of Management Colombo stock exchange, ASPI, Weak form efficiency, Dynamic concept, Efficient market hypothesis |
author_facet |
P. N. D. Fernando A. L. Gunasekara |
author_sort |
P. N. D. Fernando |
title |
Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE) |
title_short |
Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE) |
title_full |
Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE) |
title_fullStr |
Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE) |
title_full_unstemmed |
Is the Market Efficiency Static or Dynamic – Evidence from Colombo Stock Exchange (CSE) |
title_sort |
is the market efficiency static or dynamic – evidence from colombo stock exchange (cse) |
publisher |
Faculty of Commerce & Manangement Studies, University of Kelaniya |
series |
Kelaniya Journal of Management |
issn |
2279-1469 2448-9298 |
publishDate |
2018-07-01 |
description |
<p class="BodyA">The study tests the weak form efficiency of the Colombo Stock Exchange (CSE) and the consistency of the concept. In this study, daily market closing index values of (All Share Price Index) ASPI of CSE for five years, from June 2010 to June 2015, without adjustments, have been selected as the sample. Both parametric tests and non-parametric tests have been used in this study. The evidence presented in this study confirms that CSE is not weak form efficient within the sample period and is consistent with the findings of previous studies. Therefore, the fact that Efficient Market Hypothesis as a dynamic concept is debatable as studies over the past have consistently confirmed that CSE is not in weak form efficient, although the efficiency of most markets is dynamic. <em> </em><strong><em></em></strong></p> |
topic |
Colombo stock exchange, ASPI, Weak form efficiency, Dynamic concept, Efficient market hypothesis |
url |
https://kjm.sljol.info/articles/7551 |
work_keys_str_mv |
AT pndfernando isthemarketefficiencystaticordynamicevidencefromcolombostockexchangecse AT algunasekara isthemarketefficiencystaticordynamicevidencefromcolombostockexchangecse |
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1725379091414122496 |