Valuation and trading efficiency in the Greek Stock Market
This paper is concerned with the various aspects of the Greek Stock Market. This paper is separated into two parts; in the first I check the efficiency of the fundamental value of the companies in the Greek Stock Market, working from the literature on real options, and in the second one the efficiency of trading. For the Valuation part, I regress to find the beta of each company in order to incorporate it in the determination of the projected earnings and the Present value of cash flow for each company. Then I run regressions of the equity the market Capitalization and the real option value against various variables of the balance sheets of each company to see how they react. Moreover I deal with the efficiency of the stock market by examining calendar and mean reversion-trading rules. The Greek stock market does not display any inefficiency in the valuation nor in the trading part.
Kantzi, Despina, "Valuation and trading efficiency in the Greek Stock Market" (2001). ETD Collection for Fordham University. AAI3017551.