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Evaluation of stock market technical efficiency with a comparison of groups of companies in Dhaka Stock Exchange


Hasan, Md Zobaer and Kamil, Anton Abdulbasah and Baten, Md Azizul (2011) Evaluation of stock market technical efficiency with a comparison of groups of companies in Dhaka Stock Exchange. International Journal of Physical Sciences, 6 (24). pp. 5857-5865. ISSN 1992-1950

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Abstract

The objective of this study was to measure stock market efficiency of the groups of companies, such as Group-A (financial), Group-A (non-financial), Group-B and Group-Z of Dhaka stock exchange (DSE) market in Bangladesh applying the Stochastic Frontier approach, incorporating technical inefficiency effect model. Among the four groups, most efficient group was Group-A (financial) and most inefficient group was Group-Z.This study showed that the mean technical efficiency of the companies of DSE market during the period 2000 to 2008 was 0.8782. This implied that 87% of potential output was being realized by the companies of DSE market.In case of using production function model; it was found that the Translog production function was more preferable than the Cobb-Douglas production function. The technical efficiency rate was found gradually increasing over time in the stock market in Bangladesh

Item Type: Article
Uncontrolled Keywords: Dhaka stock exchange, technical efficiency, stochastic frontier model, inefficiency effects.
Subjects: Q Science > QA Mathematics
Divisions: College of Arts and Sciences
Depositing User: Prof. Madya Dr. Md. Azizul Baten
Date Deposited: 18 Dec 2014 06:37
Last Modified: 18 Dec 2014 06:37
URI: http://repo.uum.edu.my/id/eprint/12855

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