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Research Paper | Economics | Indonesia | Volume 6 Issue 2, February 2017
The Stock Market of Infrastructure Sector: A Weak-Form EMH Test
Adi Gunarso | Hermanto Siregar [10] | Tony Irawan [3]
Abstract: Infrastructure is one of important aspects in economic growth. Several policies made by the government of Indonesia is believed to be able to generate a positive sentiment on this sector and make this sector enthused by the investors. This research aims to test the weak-form Efficient Market Hypothesis (EMH) on Infrastructure Sectoral Stock Price Index (IHSS INFRA). EMH testing is important to undertake because it can help investors in making the right investment decision. The weak-form EMH testing on IHSS INFRA is conducted through unit root test, autocorrelation test, and runs test. The result of runs test shows that IHSS INFRA is efficicent at weak-form. Meanwhile, the result of unit root test and autocorrelation test indicate that IHSS INFRA is inefficient at weak-form. Therefore, it can be said that IHSS INFRA tends to be inefficient at weak-form.
Keywords: developing country, infrastructure, random-walk, stock market, weak-form efficient market hypothesis
Edition: Volume 6 Issue 2, February 2017,
Pages: 1790 - 1793
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Research Paper, Economics, India, Volume 11 Issue 8, August 2022
Pages: 927 - 932The Influence of Household Savings in the Indian Economy
Tejkiran Amrut Marathe
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Analysis Study Research Paper, Economics, India, Volume 13 Issue 3, March 2024
Pages: 638 - 641Economic Status of Members of Self - Help Groups in Barpeta District of Assam
Dhiru Deka