A Cross-Market Examination of the Efficient Market Hypothesis: Evidence from Indian and Global Stock Markets

• Author(s): Rahul Pandey
• Paper ID: 1709087
• Page: 443-445
• Published Date: 12-06-2025
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 8 Issue 12 June-2025

Abstract

This research investigates the validity and relevance of the Efficient Market Hypothesis (EMH) across both Indian and international financial markets. The EMH suggests that stock prices fully reflect all available information, making it nearly impossible to achieve consistent excess returns. This paper explores the three forms of EMH—weak, semi-strong, and strong—using both historical stock data analysis and event studies. The paper incorporates insights from NSE, BSE, NYSE, and NASDAQ markets to evaluate how information dissemination, investor behaviour, and market efficiency differ across developed and emerging markets. Findings reveal that while some efficiency characteristics exist in both market types, anomalies, behavioural factors, and information asymmetries often challenge EMH, especially in emerging markets.

Keywords

Efficient Market Hypothesis, EMH, NSE, BSE, NYSE, stock market efficiency, weak form, semi-strong form, strong form, investor behavior, market anomalies

Citations

IRE Journals:
Rahul Pandey "A Cross-Market Examination of the Efficient Market Hypothesis: Evidence from Indian and Global Stock Markets" Iconic Research And Engineering Journals Volume 8 Issue 12 2025 Page 443-445

IEEE:
Rahul Pandey "A Cross-Market Examination of the Efficient Market Hypothesis: Evidence from Indian and Global Stock Markets" Iconic Research And Engineering Journals, 8(12)