Etkin Piyasa Hipotezinin Geçerliliği: G7 Ülkeleri Örneği

نویسندگان

چکیده

The aim of this study is to examine the validity Fama's efficient market hypothesis for G7 countries. In context, effectiveness test on weak form was conducted with help non-stationary panel unit root tests within countries period 1990-2020. Firstly, cross section dependence examined CDlm test. As a result presence dependency, CADF and Hadri Kurozumi second generation tests, which take into account dependence, were used. line empirical findings obtained, it has been concluded that markets in are weakly efficient. According result, all information financial asset past reflected price not possible determine future any instrument by looking at historical movement. fact prices stable active random walk means cannot be predicted based prices.Key Words: Efficient Market Hypothesis, Panel Data Analysis, Unitroot TestJEL Classification: C23, F30, F37

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ژورنال

عنوان ژورنال: Yönetim ve Ekonomi

سال: 2021

ISSN: ['1302-0064', '2458-8253']

DOI: https://doi.org/10.18657/yonveek.863937