THE SEMI-STRONG EFFICIENCY OF THE AUSTRALIAN SHARE MARKET

被引：14
|
作者：
GROENEWOLD, N
KANG, KC
机构：
[1] Department of Economics, University of Tasmania, Hobart, Tasmania
来源：
ECONOMIC RECORD | 1993年 / 69卷 / 207期
关键词：
D O I：
10.1111/j.1475-4932.1993.tb02121.x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper tests the weak and semi-strong forms of the Efficient-Markets Hypothesis (EMH) using data on the Australian share market in the 1980s. The tests are based on aggregate share price indexes and the semi-strong efficiency tests use macroeconomic data. The weak-form tests examine the autocorrelation structure of share returns and rest for unit roots in share prices. The data are found to be consistent with the EMH.
引用
收藏
页码：405 / 410
页数：6
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