Abstract
Possibly the most controversial issue in finance is whether the financial market is efficient in allocating or using economic resources and information or not. Other financial theory issues such as volatility, predictability, speculation and anomalies are also related to the efficiency issue and are all interdependent (Islam and Oh 2003; Mills 1999; Cuthbertson 1996). An investigation of the Efficient Market Hypothesis (EMH) of the Thai stock market is provided in this chapter while the other related issues of finance theory and their implications for EMH are included in subsequent chapters.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2005 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Islam, S.M.N., Watanapalachaikul, S. (2005). Market Efficiency Models and Tests. In: Empirical Finance. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-7908-2666-1_4
Download citation
DOI: https://doi.org/10.1007/978-3-7908-2666-1_4
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-1551-1
Online ISBN: 978-3-7908-2666-1
eBook Packages: Business and EconomicsEconomics and Finance (R0)