Lee, Junsoo; Cheng, Jen-Chi; Lin, Chyongchiou; Huang, Cliff - In: Applied Financial Economics 8 (1998) 1, pp. 61-65
This paper conducts the goodness of fit test of Bartlett (1954) on the stock prices of 12 countries during the period from January 1921 to December 1930 to examine the market efficiency hypothesis. The market efficiency hypothesis is not rejected for most European countries, but it is rejected...
