The Semi-strong Efficiency of the Australian Share Market.
This paper tests the weak and semistrong forms of the efficient-markets hypothesis using data on the Australian share market in the 1980s. The tests are based on aggregate share price indexes and the semistrong efficiency tests use macroeconomic data. The weak-form tests examine the autocorrelation structure of share returns and test for unit roots in share prices. The data are found to be consistent with the efficient-markets hypothesis. Copyright 1993 by The Economic Society of Australia.
Year of publication: |
1993
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Authors: | Groenewold, Nicolaas ; Kuay, Chin Kang |
Published in: |
The Economic Record. - Economic Society of Australia - ESA, ISSN 1475-4932. - Vol. 69.1993, 207, p. 405-10
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Publisher: |
Economic Society of Australia - ESA |
Saved in:
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