The behavior of stock prices on the Shanghai Securities Exchange: implications for the stock market reform in China

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dc.creator Yu, Wayne W.
dc.date.accessioned 2014-03-05T19:52:39Z
dc.date.available 2014-03-05T19:52:39Z
dc.date.issued 1998
dc.identifier.uri http://library2.smu.ca/xmlui/handle/01/25744
dc.description.abstract This paper examines the daily stock price behavior of the 175 individual stocks traded on the Shanghai Securities Exchange for the period of August 1992 through August 1995. We find that stock prices on the exchange tend to move in step with each other. We argue that the market does not appear to efficiently allocate capital resources to their best use. In addition, we find that stock prices on the exchange mostly follow a random walk – serial correlations of stock prices are mostly statistically insignificant. The paper concludes with some policy suggestions to make the market more efficient. en_CA
dc.description.provenance Submitted by Trish Grelot (trish.grelot@smu.ca) on 2014-03-05T19:52:39Z No. of bitstreams: 1 asb_proceedings_1998_yu_w_w.pdf: 81290 bytes, checksum: 882a3e298f3d9eecaed16657d3cad2a0 (MD5) en
dc.description.provenance Made available in DSpace on 2014-03-05T19:52:39Z (GMT). No. of bitstreams: 1 asb_proceedings_1998_yu_w_w.pdf: 81290 bytes, checksum: 882a3e298f3d9eecaed16657d3cad2a0 (MD5) Previous issue date: 1998 en
dc.format.extent 8 p.
dc.language.iso en en_CA
dc.publisher Atlantic Schools of Business en_CA
dc.subject.lcsh Stocks -- Prices -- China
dc.subject.lcsh Stock exchanges -- China -- Shanghai
dc.title The behavior of stock prices on the Shanghai Securities Exchange: implications for the stock market reform in China en_CA
dc.type Text en_CA
dcterms.bibliographicCitation Proceedings of the 28th Atlantic Schools of Business Conference, Acadia University, 1998
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