The Warsaw Stock Exchange in the period 1991–1993. Qualitative problems of its modelling |
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| Authors: | Tadeusz W Bołt Paweł Miłobedzki |
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| Institution: | 1. Department of Econometrics, University of Gdańsk, ul. Armii Krajowej 101, 81-824, Sopot, Poland
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| Abstract: | The paper focuses on the analysis of return on shares quoted on the Warsaw Stock Exchange (WSE) in the period 1991–1993. We found that the WSE specific institutional background resulted in a large variation of return rates, their distributional assymetry and truncations which make hypotheses testing procedures about criteria of investors' choice and the price setting mechanism more complicated. |
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