Empirical Research on Semi-Strong Efficiency of Ho Chi Minh Stock Market in Vietnam

LE NGOC THAI ； Jianglin Tu ； Jie Yu

《International Journal of Social Science and Education Research》 3卷4期 (2020/04) Pp. 151-158

https://doi.org/10.6918/IJOSSER.202004_3(4).0019

摘要

As an important part of the capital market, the stock market has functions such as raising funds and allocating resources. Whether these functions can work effectively depends on whether the price mechanism is perfect. Another prerequisite for an effective price mechanism is that stock prices can quickly and correctly reflect new market information. Therefore, the theory of market effectiveness is a good tool to understand the laws of the stock market. This article uses the event research method to select the event published in the annual report of listed companies in Vietnam. Taking the Ho Chi Minh Market (HOSE) announcement of 239 listed company stocks from 2014 to 2018 as a sample, the market model is used to analyze of Ho Chi Minh City in Vietnam. The empirical research on strong form effectiveness has drawn the conclusion that the Ho Chi Minh stock market in Vietnam still has not reached the semi-strong form effective market, and puts forward relevant suggestions based on the current situation.

關鍵字

Market efficiency ； stock price ； stock market ； event study ； Vietnam stock market ； HOSE stock market

參考文獻

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