Please note that Internet Explorer version 8. Please refer to this blog post for more information. Asian markets tend to show better efficiency in booms as compared to recessions.

The volatility for all investors tends to be lower in every succeeding boom. Long term volatility impacts the long term efficiency significantly.

The Weak-form Efficiency of Chinese Stock MarketsJournal of Emerging Market Finance - Kian-Ping Lim, Muzafar Shah Habibullah, Melvin J. Hinich,

The Efficient Market Hypothesis has been the subject of considerable debate over the past several decades with a recent surge in interest in East Asian markets.

This study investigates the East Asian economies, which have experienced massive capital inflows, inviting the question of whether these markets are efficient enough for further investment and development.

We endeavour to assess the volatility and business cycle phases, providing a unique aspect in weak form efficiency studies. We focus on Malaysia, Indonesia, Singapore and South Korea due to their economic and financial development.

Using Multifractal Detrended Fluctuation Analysis to study efficiency, we determine first that overall efficiency has improved over the past two decades and second that markets are more efficient in growth phases in comparison to their preceding decline.

Our results concur with those reported in the mainstream literature. Peer review under responsibility of Far Eastern Federal University, Kangnam University, Dalian University of Technology, Kokushikan University. Journals Books Register Sign in Sign in using your ScienceDirect credentials Username.

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A Weak-Form Efficiency Testing of China's Stock Markets - IEEE Xplore Document

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Pacific Science Review Volume 16, Issue 4 , December , Pages open access. Investigating the efficiency of East Asian stock markets through booms and busts. Author links open the author workspace. Opens the author workspace Opens the author workspace a. Numbers and letters correspond to the affiliation list.

Click to expose these in author workspace Shaista Arshad.

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Opens the author workspace b. Click to expose these in author workspace a Nottingham University Business School, The University of Nottingham Malaysia Campus, Malaysia b IIUM Institute of Islamic Banking and Finance, Malaysia. Open Access funded by Far Eastern Federal University, Kangnam University, Dalian University of Technology, Kokushikan University. Under a Creative Commons license. Abstract The Efficient Market Hypothesis has been the subject of considerable debate over the past several decades with a recent surge in interest in East Asian markets.

Keywords East Asian stock market. Production and hosting by Elsevier B. Elsevier About ScienceDirect Remote access Shopping cart Contact and support Terms and conditions Privacy policy.

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