This paper tests weak-form market efficiency of CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa) over the period 2002-2012. We apply unit root tests and variance ratio tests to investigate if these equity markets follow a random walk. The empirical results indicate that our...

This paper investigates the relationship between stock price and trading volume in twenty four international equity indices for the period 2002-2007. This study begins with testing for stationarity, and then uses a VAR model to implement the Granger Causality test. Empirical results are mixed...

This article examines the pricing efficiency of Bitcoin Investment Trust. We investigate the deviation between prices and net asset values and find that there is a significant and persistent premium with an average of 44%. Such evidence points to pricing inefficiency of the currently available...