The Hypothesis of Stock Market Instruments: Modern Aspects, Forms and Anomalies

Abstract

The relevance of the results of the presented research is also related to their demand both from investors and issuers and from research scientists. For research scientists, the predictability of profitability or the lack of such predictability is crucial for creating models that would be able to accurately describe risks and profitability in financial markets. The methods and techniques used in the study allow us to determine the general trend of the market movement toward increasing or decreasing its efficiency. For investors, such an assessment of the effectiveness of the stock and bond markets creates a basis for optimizing asset allocation when building portfolio strategies, and for issuers serves as the basis for building a strategy for issuing activities. The subject of the study is the totality of economic relations between stock market participants in the process of assessing its effectiveness and volatility in the Republic of Kazakhstan. The theoretical basis was the results of fundamental research contained in the scientific works of foreign and Russian scientists and presented in the modern literature on the problems of evaluating the effectiveness and modeling the volatility of the stock market and building investment strategies. The scientific novelty of the research lies in the development of theoretical provisions and methodological tools for assessing the effectiveness of the Kazakhstan stock market in modern conditions.