ratios is based on the Studentized Maximum Modulus distribution with control of the joint-test’s size. The weak-form market …-liberalization period. However, in the post-liberalization period the weak-form efficiency hypothesis is generally adopted at the 5% level …

providing reasonable basis to discard the Efficient Markets Hypothesis in its weak form. The findings lead to embracing the Dow … Theory, rather than the Random Walk approach, and conclude that markets are not efficient in their weak form. …

-share markets, with a focus placed on the following issues: changing weak-form efficiency, the leverage effect, and information …

of KLSE CI returns series. Unlike previous studies, the present one relates the evidence to the popular weak-form EMH and …. Along the line of our interpretations, we are able to offer some plausible explanations as to why weak-form EMH generally … they can be exploited by investors. Looking from a micro perspective, we are able to rationalize the co-existence of weak-form …

level predicted by the weak form fiscal theory (the so-called Sargent-Wallace theory) matches actual data better than both …