Efficiency tests of the UK financial futures markets and the impact of electronic trading systems: a note on relative market efficiency

被引：2
|
作者：
Lim, Kian-Ping [1 ,2 ]
机构：
[1] Univ Malaysia Sabah, Labuan Sch Int Business & Finance, Ft Labuan 87015, Malaysia
[2] Monash Univ, Dept Econometr & Business Stat, Caulfield, Vic 3145, Australia
来源：
APPLIED ECONOMICS LETTERS | 2009年 / 16卷 / 11期
关键词：
IMPOSSIBILITY;
D O I：
10.1080/13504850701335350
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The literature on weak-form efficient market hypothesis (EMH) has experienced a phenomenal growth over the past few decades, with the empirical framework mostly directed towards testing the absolute version of market efficiency. Evans (2006) represents a small amount of studies that addressed the relative efficiency of financial markets. The present paper discusses the limitations of absolute market efficiency and surveys some measures proposed for assessing relative efficiency in extant literature.
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页码：1129 / 1132
页数：4
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