Język Polski
English
Published
:
2022-12-30
The Dependency between Informational Efficiency of Capital Markets and Effectiveness of Classical Methods of Stock Market Analysis
Marcin Fuksiewicz
Abstract
The efficient market hypothesis has been the subject of discussions for more than half a century. Its confirmation or rejection should have a direct impact on the effectiveness of methods technical and fundamental analysis. If it is confirmed, it should not be possible to periodically achieve above-average profits by applying a particular group of methods. A study conducted on the Polish capital market confirms strong market efficiency in the weak form and medium or high (depending on the size of the listed company) in the semi-strong form. However, the market reality shows that some methods of technical and fundamental analysis can be effective, and the efficient market hypothesis itself is cyclically broken by a number of anomalies.(original abstract)Keywords:
Information effectiveness, Capital market, Market analysis, Behavioural finance, Classical economyMost read articles by the same author(s)
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Fuksiewicz, M. (2022). The Dependency between Informational Efficiency of Capital Markets and Effectiveness of Classical Methods of Stock Market Analysis. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 99(4). https://doi.org/10.58683/znwsb.2022.99.4.08