Economics, Econometrics and Finance
8 years ago

European stock prices follow random walk pattern, impacting market predictability.

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Applied Financial Economics Letters
Random walk versus multiple trend breaks in stock prices: evidence from 15 European markets
Paresh Kumar Narayan, Russell Smyth

Paper Summary

Stock prices in 15 European markets were studied using multiple trend break tests. The results show that stock prices follow a random walk pattern, meaning they move randomly without following a specific trend.

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