Is the Taiwan Stock Market Efficient

Chen Chao-Fu, Indra Pandey and Gupta Jyoti  Â

No WP1998-12-06, IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: The main objective of the Taiwan Government in reforming the Taiwan Stock Exchange (TSE) has been to establish Taiwan as an Asia-Pacific financial centre. The liberalisation and internationalisation of TSE is expected to make it informationally efficient. Theoretically, the technical analysis should lose its effectiveness if a market is efficient. This study, using the serial correlation test, the run test and the normality test and simulation on mechanical rules that adopted stochastic and moving average convergence and divergence, examines the efficiency of the TSE in the period after financial deregulation and liberalisation.

Date: 1998-12-06
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:wp01570

Access Statistics for this paper

More papers in IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department Contact information at EDIRC.
Bibliographic data for series maintained by ().