Do extreme market value ratios mean that the market is informationally inefficient? A study of the Warsaw Stock Exchange

Abstract

Aim/purpose – The aim of this paper is to verify whether extremely high values of market value ratios are the symptoms of informational inefficiency of the market in a weak form. The authors intend to examine whether these phenomena co-occur with each other.

Keywords

• efficient market hypothesis
• weak-form efficiency
• market value ratios
• stock markets
• random walk
• g10
• g12
• g14