Detail publikačního výsledku

Temporary Inefficiency of Financial Markets

LUHAN, J.; NOVOTNÁ, V.; BUDÍK, J.

Original Title

Temporary Inefficiency of Financial Markets

English Title

Temporary Inefficiency of Financial Markets

Type

Paper in proceedings (conference paper)

Original Abstract

The aim of the paper is not to prove or disprove a long-standing efficient market hypothesis (EMH) but to point out specific market situations leading to temporary inefficiency of financial markets. The paper focuses on FOREX market, in particular on the world financial instrument EUR.USD with the highest liquidity. A hypothesis has been proved claiming that in certain situations market can be inefficient, which leads to external profit for speculators using the lever effect to maximize profits. A simple running average and the difference between its two periods have been used in order to quantify the market anomaly.

English abstract

The aim of the paper is not to prove or disprove a long-standing efficient market hypothesis (EMH) but to point out specific market situations leading to temporary inefficiency of financial markets. The paper focuses on FOREX market, in particular on the world financial instrument EUR.USD with the highest liquidity. A hypothesis has been proved claiming that in certain situations market can be inefficient, which leads to external profit for speculators using the lever effect to maximize profits. A simple running average and the difference between its two periods have been used in order to quantify the market anomaly.

Keywords

Statistical evaluation, applicants preferences, marketing strategy, public sphere

Key words in English

Statistical evaluation, applicants preferences, marketing strategy, public sphere

Authors

LUHAN, J.; NOVOTNÁ, V.; BUDÍK, J.

RIV year

2013

Released

09.05.2012

Publisher

IBIMA publishing

Location

Istambul

ISBN

978-0-9821489-7-6

Book

Innovation and Sustainable Economic Competitive Advantage From Regional Development to World Economies

Pages from

1272

Pages to

1279

Pages count

8

Full text in the Digital Library

http://hdl.handle.net/

BibTex

@inproceedings{BUT93878,
  author="Jan {Luhan} and Veronika {Novotná} and Jan {Budík}",
  title="Temporary Inefficiency of Financial Markets",
  booktitle="Innovation and Sustainable Economic Competitive Advantage From Regional Development to World Economies",
  year="2012",
  pages="1272--1279",
  publisher="IBIMA publishing",
  address="Istambul",
  isbn="978-0-9821489-7-6"
}