Is the Polish Stock Market Weak Form Efficient?

Authors

  • Pijanowski Slawomir Poznan University of Economics, Poland

DOI:

https://doi.org/10.32890/ijbf2005.3.3

Keywords:

Cybernetic information theory, weak form efficiency, price predictability

Abstract

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.

 

References

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Published

03-01-2006

Issue

Vol. 3 (2005): Special Issue Vol. 3, 2005

Section

Articles

How to Cite

Slawomir, P. (2006). Is the Polish Stock Market Weak Form Efficient? International Journal of Banking and Finance, 3, 33-61. https://doi.org/10.32890/ijbf2005.3.3

Research impact

Harvested 2026-09-07
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Identifiers DOI 10.32890/ijbf2005.3.3 OpenAlex W1537735656