Path-dependence is a feature of capital markets. In this systematic literature review, we study recent and relevant publications on causality testing in equity markets with the purpose of identifying which causality tests have most widely been used. Our sample consists of 191 journal articles...

Capital markets are path-dependent institutions. We can determine that a causal assessment is required for a most evidence-based analysis of capital market complexity. In this structured literature review, we study recent and relevant publications on causality testing in equity markets with the...