Research Article
Effect of Policy Reforms on Market Efficiency: Evidence from Dhaka Stock Exchange
Table 1
Descriptive Statistics of Market Return.
| Group Policy | Time Range | Mean | Median | Std. Deviation | Minimum | Maximum | Skewness | Kurtosis |
| Group Policy 1 | 1/1/1994–23/8/1995 | 0.00137 | 0.00021 | 0.01084 | −0.05440 | 0.06131 | 1.36222 | 9.01075 | Group Policy 2 | 1/1/1994–23/6/1996 | 0.00131 | 0.00028 | 0.01020 | −0.05440 | 0.06131 | 1.12333 | 8.86883 | Group Policy 3 | 1/1/1994–17/2/1997 | 0.00176 | 0.00060 | 0.01601 | −0.09197 | 0.12407 | 0.69752 | 9.25702 | Group Policy 4 | 1/1/1994–23/5/1998 | 0.00028 | 0.00000 | 0.01873 | −0.09197 | 0.12407 | 0.26692 | 5.49108 | Group Policy 5 | 1/1/1994–27/4/1999 | 0.00010 | −0.00007 | 0.01809 | −0.12141 | 0.12407 | 0.28424 | 7.82150 | Group Policy 6 | 1/1/1994–6/12/1999 | 0.00010 | −0.00005 | 0.01730 | −0.12141 | 0.12407 | 0.29304 | 8.60001 | Group Policy 7 | 1/1/1994–17/1/2001 | 0.00024 | 0.00000 | 0.01668 | −0.12141 | 0.12407 | 0.39213 | 10.05093 | Group Policy 8 | 1/1/1994–11/12/2001 | 0.00032 | 0.00000 | 0.01736 | −0.12141 | 0.29215 | 2.58291 | 44.98335 | Group Policy 9 | 1/1/1994–29/3/2002 | 0.00030 | 0.00000 | 0.01711 | −0.12141 | 0.29215 | 2.60533 | 46.06111 | Group Policy 10 | 1/1/1994–15/10/2004 | 0.00049 | 0.00004 | 0.01539 | −0.12141 | 0.29215 | 2.67157 | 53.41117 | Group Policy 11 | 1/1/1994–31/12/2005 | 0.00043 | 0.00005 | 0.01524 | −0.12141 | 0.29215 | 2.46361 | 50.82774 |
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