We investigate the predictability of technical analysis applied to the Singapore Straits Times Index. There are three trading rules – the Simple Moving Average, the Dual Moving Average and Trading Range Breakout with and without a one percent band – which are applied to undertake the...

This paper examines the long- run equilibrium relationships between the major stock indices of Singapore and the United States and selected macroeconomic variables by means of time series data for the period January 1982 to December 2002. The results of various cointegration tests suggest that...

The Efficient Market Hypothesis states that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear...

This study examines a public policy issue: whether government officials engage in earnings management to collude with private investors in the privatization of state-owned enterprises (SOEs). We find that the managers of listed Chinese SOEs, who are de facto bureaucrats, employ income-decreasing...