Equity market informational efficiency: history and development
In economics and finance, the term ‘efficiency’ has several distinct connotations. This term can be used to refer to allocation efficiency, informational efficiency, operational efficiency or technical efficiency.1 At the outset, it is necessary to clarify that in this chapter ‘efficiency’ only refe...
| Main Authors: | , |
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| Format: | Chapter In Book |
| Language: | English |
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2017
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| Online Access: | https://eprints.ums.edu.my/id/eprint/20066/1/Equity%20market%20informational%20efficiency.pdf |
| _version_ | 1796909935752118272 |
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| author | Qaiser Munir Sook, Ching Kok |
| author_facet | Qaiser Munir Sook, Ching Kok |
| author_sort | Qaiser Munir |
| collection | UMS |
| description | In economics and finance, the term ‘efficiency’ has several distinct connotations. This term can be used to refer to allocation efficiency, informational efficiency, operational efficiency or technical efficiency.1 At the outset, it is necessary to clarify that in this chapter ‘efficiency’ only refers to informational efficiency, such that prices are based on the best available information (Howell and Bain, 2005: 540). According to Latham (1986), the most common implicit definition for informational efficiency is that prices will not change if all private information is publicized. Zou (2011) interprets this type of efficiency as the effectiveness of market information. |
| first_indexed | 2024-03-06T02:56:59Z |
| format | Chapter In Book |
| id | ums.eprints-20066 |
| institution | Universiti Malaysia Sabah |
| language | English |
| last_indexed | 2024-03-06T02:56:59Z |
| publishDate | 2017 |
| record_format | dspace |
| spelling | ums.eprints-200662018-05-17T01:30:27Z https://eprints.ums.edu.my/id/eprint/20066/ Equity market informational efficiency: history and development Qaiser Munir Sook, Ching Kok HG Finance In economics and finance, the term ‘efficiency’ has several distinct connotations. This term can be used to refer to allocation efficiency, informational efficiency, operational efficiency or technical efficiency.1 At the outset, it is necessary to clarify that in this chapter ‘efficiency’ only refers to informational efficiency, such that prices are based on the best available information (Howell and Bain, 2005: 540). According to Latham (1986), the most common implicit definition for informational efficiency is that prices will not change if all private information is publicized. Zou (2011) interprets this type of efficiency as the effectiveness of market information. 2017 Chapter In Book NonPeerReviewed text en https://eprints.ums.edu.my/id/eprint/20066/1/Equity%20market%20informational%20efficiency.pdf Qaiser Munir and Sook, Ching Kok (2017) Equity market informational efficiency: history and development. Information Efficiency and Anomalies in Asian Equity Markets: Theories and Evidence. pp. 1-16. https://doi.org/10.4324/9781315638195 |
| spellingShingle | HG Finance Qaiser Munir Sook, Ching Kok Equity market informational efficiency: history and development |
| title | Equity market informational efficiency: history and development |
| title_full | Equity market informational efficiency: history and development |
| title_fullStr | Equity market informational efficiency: history and development |
| title_full_unstemmed | Equity market informational efficiency: history and development |
| title_short | Equity market informational efficiency: history and development |
| title_sort | equity market informational efficiency history and development |
| topic | HG Finance |
| url | https://eprints.ums.edu.my/id/eprint/20066/1/Equity%20market%20informational%20efficiency.pdf |
| work_keys_str_mv | AT qaisermunir equitymarketinformationalefficiencyhistoryanddevelopment AT sookchingkok equitymarketinformationalefficiencyhistoryanddevelopment |