Is the Polish Stock Market Weak Form Efficient?
This paper explores the definition of predictability of Warsaw Stock Index returns by using measures elaborated in Shannon-Mazur’s cybernetic information theory, potentially a new approach to understand capital market informational efficiency. The main message of this research is that the use of i...
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| Format: | Article |
| Language: | English |
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Universiti Utara Malaysia
2006-01-01
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| Series: | The International Journal of Banking and Finance |
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| Online Access: | https://www.e-journal.uum.edu.my/index.php/ijbf/article/view/8349 |
| _version_ | 1797958203982479360 |
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| author | Pijanowski Slawomir |
| author_facet | Pijanowski Slawomir |
| author_sort | Pijanowski Slawomir |
| collection | DOAJ |
| description | This paper explores the definition of predictability of Warsaw Stock Index returns by using measures elaborated in Shannon-Mazur’s cybernetic information theory, potentially a new approach to understand capital market informational efficiency. The main message of this research is that the use of information theory methods may shed new light on the applicability of weak-form efficiency tests and the phenomenon of return unpredictability. Cybernetic interpretation in answering the question about market returns predictability and, in retrospect, may contribute to the discussion on the predictability tests of market returns.
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| first_indexed | 2024-04-11T00:15:36Z |
| format | Article |
| id | doaj.art-a497271a5fe94dd896e2251dda2e78ed |
| institution | Directory Open Access Journal |
| issn | 2811-3799 2590-423X |
| language | English |
| last_indexed | 2024-04-11T00:15:36Z |
| publishDate | 2006-01-01 |
| publisher | Universiti Utara Malaysia |
| record_format | Article |
| series | The International Journal of Banking and Finance |
| spelling | doaj.art-a497271a5fe94dd896e2251dda2e78ed2023-01-09T03:08:51ZengUniversiti Utara MalaysiaThe International Journal of Banking and Finance2811-37992590-423X2006-01-013Is the Polish Stock Market Weak Form Efficient?Pijanowski Slawomir0Poznan University of EconomicsThis paper explores the definition of predictability of Warsaw Stock Index returns by using measures elaborated in Shannon-Mazur’s cybernetic information theory, potentially a new approach to understand capital market informational efficiency. The main message of this research is that the use of information theory methods may shed new light on the applicability of weak-form efficiency tests and the phenomenon of return unpredictability. Cybernetic interpretation in answering the question about market returns predictability and, in retrospect, may contribute to the discussion on the predictability tests of market returns. https://www.e-journal.uum.edu.my/index.php/ijbf/article/view/8349Cybernetic information theoryweak form efficiencyprice predictability |
| spellingShingle | Pijanowski Slawomir Is the Polish Stock Market Weak Form Efficient? The International Journal of Banking and Finance Cybernetic information theory weak form efficiency price predictability |
| title | Is the Polish Stock Market Weak Form Efficient? |
| title_full | Is the Polish Stock Market Weak Form Efficient? |
| title_fullStr | Is the Polish Stock Market Weak Form Efficient? |
| title_full_unstemmed | Is the Polish Stock Market Weak Form Efficient? |
| title_short | Is the Polish Stock Market Weak Form Efficient? |
| title_sort | is the polish stock market weak form efficient |
| topic | Cybernetic information theory weak form efficiency price predictability |
| url | https://www.e-journal.uum.edu.my/index.php/ijbf/article/view/8349 |
| work_keys_str_mv | AT pijanowskislawomir isthepolishstockmarketweakformefficient |