@article{metescu2012random,
  title = {Random Walk Theory and the Romanian Capital Market  A New Perspective},
  author = {Ana Maria Calomfir (Metescu) and Cristian Silviu Bănacu and Doina I. Popescu},
  year = 2012,
  url = {https://ibimapublishing.com/articles/JFSR/2012/173305/},
  journal = {Journal of Financial Studies and Research},
  volume = 2012 (2012),
  pages = 9,
  doi = 10.5171/2012.173305,
  abstract = {Forecasting rates of return, thus the attempt to predict the behavior of financial assets, with an increased degree of accuracy, represents one of the most outstanding challenges for the academic and investment area. The main purpose of the paper is to analyze past fluctuations of the prices of security titles, taking into account the original hypothesis that they are influenced by past values of those prices, and of course, taking into consideration the fact that the amount of data an investor may posses is much richer than the amount of historical data, with respect to the rates of return time series. In the end , some conclusions regarding the application of the random walk theory and the Romanian capital market efficiency were drawn, based on the results obtained from the statistical tests, and also, due to the fact that the market efficiency has, as a theoretical approach and mathematical model, the random walk theory.},
  keywords = {random walk, market efficiency, information, capital markets.},
  note = Article ID: 173305
}