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The Efficiency of China's Stock Market

2017-11-30 Business & Economics
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Release : 2017-11-30
Genre : Business & Economics
Kind : eBook
Book Rating : 904/5 ( reviews)

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Book Synopsis The Efficiency of China's Stock Market by : Shiguang Ma

Download or read book The Efficiency of China's Stock Market written by Shiguang Ma. This book was released on 2017-11-30. Available in PDF, EPUB and Kindle. Book excerpt: By investigating the efficiency of China's stock market in accordance with the theoretical framework of the Efficient Market Hypothesis, this book focuses on weak form and semi-strong form market efficiency. Empirical tests have been intensively conducted on the random walk hypothesis, the presence of market seasonality and the price reaction to publicly released information. In addition The Efficiency of China's Stock Market provides a comparative analysis between China's stock market and other countries' stock markets.

The Weak-form Efficiency of Chinese Stock Markets

2011 Efficient market theory
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Release : 2011
Genre : Efficient market theory
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Book Synopsis The Weak-form Efficiency of Chinese Stock Markets by : Wai Liu

Download or read book The Weak-form Efficiency of Chinese Stock Markets written by Wai Liu. This book was released on 2011. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by the unique characteristics of the Chinese stock markets and the defects of previous investigations on the efficiency of the Chinese stock markets, this paper re-examines the weak-form efficiency of the SHSE and SZSE after opening the B-share market to Chinese local investors. Applying four types of random walk test to the thin trading adjusted daily return series over the perios from 1995 to 2009, the present study finds that both the SHSE and SZSE are not weak-form effecient markets, even after correcting the thin trading problem. This is the case simply because the random walk is absent from both stock markets. The efficiency of both stock markets has, however, been improved dramatically by the CSRC's decision to allow Chinese local investors to engage in the B-share markets -- Abstract.

The Chinese Stock Market

2004-01-01 Business & Economics
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Release : 2004-01-01
Genre : Business & Economics
Kind : eBook
Book Rating : 172/5 ( reviews)

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Book Synopsis The Chinese Stock Market by : Nicolaas Groenewold

Download or read book The Chinese Stock Market written by Nicolaas Groenewold. This book was released on 2004-01-01. Available in PDF, EPUB and Kindle. Book excerpt: '. . . this book succeeds in its mission of analysing the efficiency, predictability and profitability of the Chinese stock market. It is strongly recommended to scholars. It is additionally recommended to practitioners involved in the market, sharing its prosperity and avoiding the possible risk. This book is also recommended to the students who want to learn the systematic application of econometric modelling to market efficiency analysis.' - Shiguang Ma, Economic Record The emergence of a stock market in China only occurred a decade ago and it remains something of an unknown quantity to many observers and traders outside of the country. This book provides an extensive historical and empirical analysis of the Chinese stock-market, the development of which is an integral part of the process of economic modernization that began in China in the late 1970s.

Weak-Form Efficiency and Causality Tests in Chinese Stock Markets

2016
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Release : 2016
Genre :
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Book Synopsis Weak-Form Efficiency and Causality Tests in Chinese Stock Markets by : Martin Miles Laurence

Download or read book Weak-Form Efficiency and Causality Tests in Chinese Stock Markets written by Martin Miles Laurence. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt: China has two major stock exchanges, the Shanghai and the Shenzen exchanges. Each of these exchanges trades two types of shares, type “A” and type “B” shares. Type “A” shares are available to domestic investors only and type “B” shares are available to foreign investors. This article tests for the weak-form efficiency in these markets and explores the statistical relationships and causality among these Chinese stock markets with each other and with the U.S. and Hong Kong stock markets. The results indicate the existence of (1) a weak-form efficiency in the market for “A” shares but not “B” shares, (2) statistically weak linkages between the Chinese markets, (3) a weak causal effect from the Hong Kong to the four Chinese markets, and (4) a strong causal effect from U.S. stock mark to all four Chinese stock markets and the Hong Kong Stock market, particularly during the second period of the sample. These results support the assertion that the Chinese stock markets are becoming more integrated to the global economy.

Weak-form Efficiency in the Chinese Stock Markets

1994 Efficient market theory
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Release : 1994
Genre : Efficient market theory
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Book Synopsis Weak-form Efficiency in the Chinese Stock Markets by : James Joseph Chin

Download or read book Weak-form Efficiency in the Chinese Stock Markets written by James Joseph Chin. This book was released on 1994. Available in PDF, EPUB and Kindle. Book excerpt:

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