Revisiting the weak-form efficiency of the Australian stock market | Zendy

Tong Tong | Zendy; Bin Li | Zendy; Omar M. Benkato | Zendy

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Revisiting the weak-form efficiency of the Australian stock market

Author(s) -

Tong Tong,

Bin Li,

Omar M. Benkato

Publication year - 2014

Publication title -

corporate ownership and control

Language(s) - English

Resource type - Journals

eISSN - 1810-0368

pISSN - 1727-9232

DOI - 10.22495/cocv11i2p2

Subject(s) - predictability , market efficiency , stock market , business , stock (firearms) , financial economics , efficient market hypothesis , monetary economics , economics , econometrics , geography , mathematics , statistics , context (archaeology) , archaeology

We use recent daily data and several testing procedures to re-investigate the weak-form efficiency of the Australian stock of the top 50 companies across different industries. Contrary to most prior studies, our results suggest that the Australian market is weak-form efficient with little or no evidence for short-term return predictability.

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