Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23730
Authors: 
Berneburg, Marian
Year of Publication: 
2004
Series/Report no.: 
IWH Discussion Papers 193
Abstract: 
The article tests for a random walk in European equity style indexes. After briefly introducing the efficient market hypothesis, equity styles in general and the used statistical techniques (Variance Ratio Test and modified Rescaled Range Test) it is shown that a random walk in European equity style indexes cannot be rejected. At least in the period since the mid 70s, for which this research has been conducted, the weak form efficient market hypothesis seems to hold.
Subjects: 
Efficient Market Hypothesis
Variance Ratio Test
Rescaled Range Test
Equity Style Investment
JEL: 
G11
G14
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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