Abstract
In Chapter 5, the discussion was concluded by creating three different portfolios for the Russian equity market according to individual securities’ transparency: the top-, medium-, and bottom-transparency portfolio. For the purpose of measuring relative market efficiency, this chapter will use these three portfolios and apply to them the variance ratio test discussed in chapter 6.
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© 1999 Kluwer Academic Publishers
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(1999). Running the Numbers on a Frontier Market. In: Frontier Emerging Equity Markets Securities Price Behavior and Valuation. Springer, Boston, MA. https://doi.org/10.1007/978-0-585-30811-1_7
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DOI: https://doi.org/10.1007/978-0-585-30811-1_7
Publisher Name: Springer, Boston, MA
Print ISBN: 978-0-7923-8585-1
Online ISBN: 978-0-585-30811-1
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