| dc.rights.license | CC-BY-NC-ND | |
| dc.contributor.advisor | Walther, Thomas | |
| dc.contributor.author | Hassanzadeh Tavakkol, Mahshid | |
| dc.date.accessioned | 2022-09-09T00:01:56Z | |
| dc.date.available | 2022-09-09T00:01:56Z | |
| dc.date.issued | 2022 | |
| dc.identifier.uri | https://studenttheses.uu.nl/handle/20.500.12932/42385 | |
| dc.description.abstract | The cryptocurrency market has drawn much attention in recent years. The efficient market hypothesis, one of the essential basics of finance researches, has been investigated in this market repeatedly. However, the existing studies have been mostly focused on Bitcoin and the results in this area have been mixed. Considering the rising debates about replication crisis in finance, we replicated two previous studies by Urquhart (2016) and Nadarajah and Chu (2016) in order to validate their findings. These studies were further updated with a current data set and extended with analyses on 8 other altcoins to check if the results stand for other time-spans and assets. We used the same method as the two pre-mentioned studies to test for weak forms of efficiency, and found that the results of the previous studies are generally replicable and, by adding an odd power to the daily returns of cryptocurrencies, are mainly efficient. | |
| dc.description.sponsorship | Utrecht University | |
| dc.language.iso | EN | |
| dc.subject | Efficiency of markets is one of the bases of finance research; because it leads to a right distribution of investable resources. There has been some studies on the efficiency of cryptocurrency market as a recently emerged market. However; the results of these researches have been mixed. Considering the mixed results and rising debates on replicability of finance studies, we replicated 2 of the existing studies. Also we updated the results to see how the results have changed during past years. | |
| dc.title | Efficiency in cryptocurrency market | |
| dc.type.content | Master Thesis | |
| dc.rights.accessrights | Open Access | |
| dc.subject.keywords | Market Efficiency; Cryptocurrency; Replication Crisis | |
| dc.subject.courseuu | Banking and Finance | |
| dc.thesis.id | 7938 | |
