Do Investors Listen to Fiscal Policy? Study Case – Bucharest Stock Exchange
Mardi | 2016-06-30 16h00-17h00 en sully05 Filip IORGULESCU – Andreea STOIAN The aim of this paper is to examine whether information on fiscal policy includes in the stock prices in a way which is consistent with the Efficiency Market Hypothesis. We conduct our investigation for the Bucharest Stock Exchange which is one emerging stock market from Central and Eastern Europe. For the purpose of our study, we employ the methodology suggested by Darrat (1988). We analyse the influence of past […]