| Summary: | 碩士 === 東海大學 === 統計學系 === 85 === A market in which prices always "fully reflect" all available
information iscalled "efficient". In general, the efficiency of
capital market tests concernedwith the adjustment of security
prices to three relevant information subsets isconsidered that
were, weak form tests, semi-strong form tests, strong form
tests. In our paper, we discuss whether Taiwan''s security market
is a weak form market. And the weak form tests, in which the
concern is whether prices efficiently adjust to information that
is historical prices. Due to investor''s cognizance of
information in which has fuzziness, weuse logical relationship
"if...then..." which is proposed by Song & Chissom(Fuzzy Time
Series, 1993), to check whether the return of Taiwan''s
securitymarket has such logical relationship. If the return of
Taiwan''s security don''t have such logical relationship, then the
Taiwan''s security market is a weak formmarket. Finally, the
result shows that Taiwan''s security market is a weak form
market.
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