Skip to Main Content
The Efficiency of China's Stock Market
book

The Efficiency of China's Stock Market

by Shiguang Ma
November 2017
Intermediate to advanced content levelIntermediate to advanced
302 pages
16h 35m
English
Routledge
Content preview from The Efficiency of China's Stock Market
Weak Form Efficient or Not? Tests o f Random Walk Hypothesis
125
In Panel C of Tables 4.14 and 4.15, the percentages of individual shares that
have statistically significant test-statistics of variance ratios for monthly returns are
slightly larger than that in Panel B for weekly returns. However, the percentages of
rejections are still under 20%. Following the serial correlation coefficient tests and
runs tests, the variance ratio tests provide the evidence again that the monthly price
behaviour of China’s individual shares obey the random walk.
5.5 Conclusion
This chapter has comprehensively tested the random walk hypothesis to ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Understanding China’s Economic Indicators: Translating the Data into Investment Opportunities

Understanding China’s Economic Indicators: Translating the Data into Investment Opportunities

Thomas Orlik

Publisher Resources

ISBN: 9781351146913