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Title: The stock market in Greece : An empirical study; 1968-1982.
Author: Hevas, D.
Awarding Body: University of Wales Institute of Science and Technology (UWIST)
Current Institution: Cardiff University
Date of Award: 1984
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The aim of this study was to analyse firstly, the functioning of the Greek Stock Market and, secondly, its ability to influence both the capital formation process and the allocation of investable funds among the various assets offered in the Greek Financial Market (the Financial Market defined so as to include the stock market, the bond market and the money market). With this respect, this study analysed firstly, the influence of financial assets returns on household-consumption saving decisions (see Chapter Two), secondly, the influence of financial assets returns on the flow-of-funds to and within the financial market (see Chapter Three) and, thirdly, the ability of the Stock Exchange Mechanism to help investors to "correctly price" the shares offered in it (that is, testing the Efficient Market Hypothesis on the Greek Stock Market; see Chapter Five). In addition, a fourth area was included, that is an analysis of the factors that influence shares values and, therefore, shares returns in Greece, the reason being that the shares valuation process is viewed as being closely related with all three main areas that this study intended to analyse (See Chapter Four). The general conclusion that emerged from the empirical analysis is that, not only the Greek Stock Market, but the whole Greek Financial System has failed in the fulfilment of their aims as they were set in the paragraph above. According to these findings, a number of suggestions for further research on the Greek Stock Market were made, relevant to the needs of both government's and corporations' policy makers.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: Economics & economic theory Economics