Chiang, Shu-Mei; Yeh, Chin-Piao; Chiu, Chien-Liang - In: Emerging Markets Finance and Trade 45 (2009) 3, pp. 35-55
's market seem low, though speculators can use the sizable transitory component of market fluctuation to engage in arbitrage … the Shanghai and Shenzhen Stock Exchanges. Although the response to outside innovations is greater within the transitory … component, it is short-lived; conversely, though there is a high level of persistence in the trend, new information has only a …