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
Preview |
PDF
Available under License Attribution 4.0 International (CC BY 4.0). Download (196kB) | Preview |
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: | https://repo.uum.edu.my/id/eprint/12855 |
Actions (login required)
View Item |