Ntim, Collins G.; Opong, Kwaku K.; Danbolt, Jo - In: The African Finance Journal 9 (2007) 2, pp. 1-25
This study empirically re-examines the weak form efficient markets hypothesis of the Ghana Stock Market using a new robust non-parametric variance-ratios test in addition to its parametric alternative. The main finding is that stock returns are conclusively not efficient in the weak form,...