Shahid, Muhammad Naeem; Sattar, Abdul - In: Pakistan journal of commerce and social sciences 11 (2017) 2, pp. 471-504
The current study investigates Adaptive Market Hypothesis (AMH) via five different calendar effects in Pakistan stock market. For the purpose we examine daily returns of KSE-100 index. The sample comprises 24 years over the period from January 1992 to December 2015. We use sub-sample analysis by...