Market movers and tote and bookmakers returns: further empirical evidence on a market anomaly

This letter provides empiricial evidence on the impact of market movements in odds between opening and closing prices on relative tote and bookmaker returns when explicit allowence is made for insider trading. The results support an asymetric impact and are not readily reconcilable with market effciency.

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Year of publication:	1999
Authors:	Peel, D. A. ; Law, D. ; Cain, M.
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 6.1999, 12, p. 801-804
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009195798