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  • A Test Of The Weak Form Efficiency Of The Zimbabwe Stock Exchange ... - Ir Nust Ac

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National University of Science and Technology (Zimbabwe) NuSpace Institutional Repository Finance http://ir.nust.ac.zw Finance Publications 201306 A Test of the Weak Form Efficiency of the Zimbabwe.

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Overall, the most efficient markets are the ones of UK, Sweden, Switzerland or France while among the least efficient ones can be mentioned the markets of Bulgaria, Czech Republic, Greece or Slovakia. Market efficiency is one of the most important topics in finance and the subject of numerous studies.

The U.S. equity markets are the largest in the world and continue to be among the deepest, most liquid and most efficient, representing 46.2% of the $111 trillion global equity market cap, or $51 trillion.

The ZSE industrial index was found to be weak form inefficient and the study failed to conclude weak form efficiency for the mining index due to evidence of model dependency.

Weak form of EMH is tested using the Kolmogorov-Smirnov goodness of fit test, run test and autocorrelation test. The K-S test result concludes that in general the stock price movement does not follow random walk. The results of the runs test reveals that share prices of seven companies do not follow random walk.

In many of the markets studied, a significant number of stocks rejected the random walk. Only three markets, Namibia, Kenya and Zimbabwe, were found to be relatively weak form efficient.

Weak form efficiency refers to a market where share prices fully and fairly reflect all past information. In such a market, it is not possible to make abnormal gains by studying past share price movements.

Financial markets are also efficient in the sense of being highly integrated. In other words, prices of similar securities track each other closely over time and prices of the same security trading in different markets are identical, or nearly so.

The Zimbabwe Capital market currently has two registered Exchanges; the Zimbabwe Stock Exchange (ZSE) and the Financial Securities Exchange (FINSEC) Zimbabwe Stock Exchange (ZSE)

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232