Share Prices and Trading Volume: Indications of Stock Exchange Efficiency

M. Massa and G. Majnoni

Working Papers from Banca Italia - Servizio di Studi

Abstract: This paper tests whether the reforms effected by the Italian Stock Exchange at the beginning of the nineties (creation of specialized intermediaries, obligation to trade on the official markets, screen-based trading and cash settlement) have increased market efficiency.

Keywords: TESTS; STOCK MARKET (search for similar items in EconPapers)
JEL-codes: G10 G18 (search for similar items in EconPapers)
Pages: 63 pages
Date: 1996
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Citations: View citations in EconPapers (1)

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