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Stock-Market Efficiency in Thin-Trading Markets: The Case of the Vietnamese Stock Market
[journal article]
Abstract This paper reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. The article focuses... view more
This paper reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. The article focuses on the question whether the market is weak-form efficient. An important element of the investigation concerns the possible bias of the results caused by the thin trading that characterizes the STC. Stock-market returns are corrected for this. The main conclusion is that the STC is not efficient in the weak form.... view less
Document language
English
Publication Year
2008
Page/Pages
p. 3519-
Journal
Applied Economics, 42 (2008) 27
DOI
https://doi.org/10.1080/00036840802167350
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)