Investigating Weak Form of Efficiency in Tehran Stock Exchange and Ranking Factors that Affect it

This study tries to examine the efficiency of Tehran Stock Exchange and identify factors that can improve this efficiency. The methodology of this research, based on its nature and objectives, is descriptive-analytic. Based on the research objectives, the best way to collect the required data was questionnaire. Also, using independence tests (so run test) we examined weak form of efficiency in Tehran Stock Exchange. Our results do not confirm the weak form of efficiency of capital market in Tehran stock exchange. In order to identify the factors that can improve the efficiency of Tehran Stock Exchange, in addition to analyzing expert opinions, the method of factor analysis has been used. And to determine the degree of importance of different factors, we used Entropy technique. The results show that market information system is the most important one. In addition, some practical recommendations are suggested in this paper.