Efficient Market Hypothesis (EMH) has attracted a considerable number of studies in empirical finance, particularly in determining the market efficiency of an emerging financial market. Conflicting and inconclusive outcomes have been generated by various existing studies in EMH. In addition,...

Efficient Market Hypothesis (EMH) has attracted a considerable number of studies in empirical finance, particularly in determining the market efficiency of an emerging financial market. These efficiency tests in the emerging financial markets are rarely definitive in reaching a conclusion about...

The paradigm of the Living Logical System puts into discussion the logical and ontological bases of orthodox economic models concerning the knowledge of the economic processes. The economic process can be known by the economic phenomenon, as it represents the measured form of the economic...