TO STUDY THE WEAK FORM EFFICIENCY OF THE COMPANIES OFFERED IN TEHRAN STOCK EXCHANGE, SUBJECT TO PRINCIPLE 44 OF THE CONSTITUTIONAL LAW

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SHAMS SHAHABEDDIN; BABALOUYAN SHAHRAM; JOOLA JAFAR

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Journal: JOURNAL OF SECURITIES EXCHANGE Year:2010 | Volume:3 | Issue:10 Page(s): 77-90

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Information Journal Paper

Title

TO STUDY THE WEAK FORM EFFICIENCY OF THE COMPANIES OFFERED IN TEHRAN STOCK EXCHANGE, SUBJECT TO PRINCIPLE 44 OF THE CONSTITUTIONAL LAW

Author(s)

SHAMS SHAHABEDDIN | BABALOUYAN SHAHRAM | JOOLA JAFAR | Issue Writer Certificate

Keywords

EFFICIENCYQ3

RUN TESTQ3

UNIT ROOT TESTQ3

VARIANCE RATIO TESTQ3

RANDOM WALKQ3

Abstract

If the stock prices of the firms are efficient, the future prices cannot be predicted through the study of past price series.The purpose of the research is testing weak-form EFFICIENCY, using Lo & Mackinaly VARIANCE RATIO TEST, for the companies stipulated in principle 44 of the Constitutional Law that have been offered in Tehran Stock Exchange (TSE).The Sample of the research is all companies subject to principle 44 from 1385/11/15 (date of offering of the first company in TSE) to the first half of 1389.The results of the research indicate that stock prices of principle 44 companies offered in TSE are not weak-form efficient.

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APA: Copy

SHAMS, SHAHABEDDIN, BABALOUYAN, SHAHRAM, & JOOLA, JAFAR. (2010). TO STUDY THE WEAK FORM EFFICIENCY OF THE COMPANIES OFFERED IN TEHRAN STOCK EXCHANGE, SUBJECT TO PRINCIPLE 44 OF THE CONSTITUTIONAL LAW. JOURNAL OF SECURITIES EXCHANGE, 3(10), 77-90. SID. https://sid.ir/paper/187716/en

Vancouver: Copy

SHAMS SHAHABEDDIN, BABALOUYAN SHAHRAM, JOOLA JAFAR. TO STUDY THE WEAK FORM EFFICIENCY OF THE COMPANIES OFFERED IN TEHRAN STOCK EXCHANGE, SUBJECT TO PRINCIPLE 44 OF THE CONSTITUTIONAL LAW. JOURNAL OF SECURITIES EXCHANGE[Internet]. 2010;3(10):77-90. Available from: https://sid.ir/paper/187716/en

IEEE: Copy

SHAHABEDDIN SHAMS, SHAHRAM BABALOUYAN, and JAFAR JOOLA, “TO STUDY THE WEAK FORM EFFICIENCY OF THE COMPANIES OFFERED IN TEHRAN STOCK EXCHANGE, SUBJECT TO PRINCIPLE 44 OF THE CONSTITUTIONAL LAW,” JOURNAL OF SECURITIES EXCHANGE, vol. 3, no. 10, pp. 77–90, 2010, [Online]. Available: https://sid.ir/paper/187716/en

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