IDEAS home Printed from https://ideas.repec.org/a/bla/ecorec/v69y1993i207p405-10.html
   My bibliography  Save this article

The Semi-strong Efficiency of the Australian Share Market

Author

Listed:
  • Groenewold, Nicolaas
  • Kuay, Chin Kang

Abstract

This paper tests the weak and semistrong forms of the efficient-markets hypothesis using data on the Australian share market in the 1980s. The tests are based on aggregate share price indexes and the semistrong efficiency tests use macroeconomic data. The weak-form tests examine the autocorrelation structure of share returns and test for unit roots in share prices. The data are found to be consistent with the efficient-markets hypothesis. Copyright 1993 by The Economic Society of Australia.

Suggested Citation

  • Groenewold, Nicolaas & Kuay, Chin Kang, 1993. "The Semi-strong Efficiency of the Australian Share Market," The Economic Record, The Economic Society of Australia, vol. 69(207), pages 405-410, December.
    • Handle: RePEc:bla:ecorec:v:69:y:1993:i:207:p:405-10
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. neifar, malika, 2020. "Efficiency-Market Hypothesis: case of Tunisian and 6 ‎Asian stock markets ‎," MPRA Paper 103232, University Library of Munich, Germany.
    2. Xiaoming Li & Jian Xu, 2002. "A note on New Zealand Stock Market efficiency," Applied Economics Letters, Taylor & Francis Journals, vol. 9(13), pages 879-883.
    3. Senol Emir & Hasan Dincer & Umit Hacioglu & Serhat Yuksel, 2016. "Random Regression Forest Model using Technical Analysis Variables: An application on Turkish Banking Sector in Borsa Istanbul (BIST)," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 5(3), pages 85-102, April.
    4. Senarathne Chamil W., 2020. "Are Religious Believers Irrational: A Direct Test from an Efficient Market Hypothesis," Financial Sciences. Nauki o Finansach, Sciendo, vol. 25(1), pages 35-53, March.
    5. N. Groenewold & P. Fraser, 1997. "Time-varying betas & macroeconomic influences," Economics Discussion / Working Papers 97-09, The University of Western Australia, Department of Economics.
    6. Sasipa Pojanavatee, 2014. "Cointegration and causality analysis of dynamic linkage between stock market and equity mutual funds in Australia," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-17, December.
    7. Kostas Mavromaras & Neha Deo & Heath Spong & Maria Estela Varua, 2017. "The Impact of the GFC on Sectoral Market Efficiency: Non-linear Testing for the Case of Australia," The Economic Record, The Economic Society of Australia, vol. 93, pages 38-56, June.
    8. Subrata ROY, 2022. "Whether high frequency intraday data behave randomly: Evidence from NIFTY 50," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(631), S), pages 65-80, Summer.
    9. Aatola, Piia & Ollikka, Kimmo & Ollikainen, Markku, 2012. "Informational Efficiency of the EU ETS market – a study of price predictability and profitable trading," Working Papers 28, VATT Institute for Economic Research.
    10. Subrata Roy, 2018. "Testing Random Walk and Market Efficiency: A Cross-Stock Market Analysis," Foreign Trade Review, , vol. 53(4), pages 225-238, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecorec:v:69:y:1993:i:207:p:405-10. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley-Blackwell Digital Licensing or Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/esausea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.