Frimpong, Joseph Magnus; Oteng-Abayie, Eric Fosu - Volkswirtschaftliche Fakultät, … - 2007
This paper examines the weak-form efficient market hypothesis (EMH) in the case of the Ghana Stock Exchange (GSE) an emerging market. Daily returns from the Databank Stock Index (DSI) over a 5-year period 1999-2004 were used for the exercise. Random walk (RW) and GARCH(1,1) models are used as...