论文标题
一项关于印度股市效率的研究
A Study on the Efficiency of the Indian Stock Market
论文作者
论文摘要
股票市场的效率对潜在的投资回报率有重大影响。一个有效的市场消除了套利和未能开发的利润机会的可能性。这项研究根据印度两项主要的证券交易所，即BSE和NSE分析了印度股票市场的较弱效率。从2010年4月到2019年3月，Sensex和Nifty指数的每日关闭值用于执行运行测试，自相关测试和自动估计测试。该研究证实，印度股市效率低下，因此表现不佳。
The efficiency of the stock market has a significant impact on the potential return on investment. An efficient market eliminates the possibility of arbitrage and unexploited profit opportunities. This study analyzes the weak form efficiency of the Indian Stock market based on the two major Indian stock exchanges, viz., BSE and NSE. The daily closing values of Sensex and Nifty indices for the period from April 2010 to March 2019 are used to perform the Runs test, the Autocorrelation test, and the Autoregression test. The study confirms that the Indian Stock market is weak form inefficient and can thus be outperformed.
