stock prices

Efficiency Market Hypothesis in an Emerging Market: Does It Really Hold for Malaysia?

On: October 8, 2022

This study revisits the efficient market hypothesis (EMH) with regard to the Kuala Lumpur Stock Exchange (KZSE) at the sectoral level. Based on Liu and Narayan’s (2011) GARCH-based unit-root with structural breaks test, the unit-root null is rejected for all except one sector. By contrast, models based on commonly usedContinue Reading

The Co-Movement between Exchange Rates and Stock Prices in an Emerging Market

By: syazahzwni

On: October 8, 2022

The aim of this paper is to examine the co-movement between exchange rates and stock prices of both the market and industries (industrial products and consumer products) in Malaysia from March 1994 to December 2013. Motivated by inconclusive evidences of previous studies to support the flow oriented and stock orientedContinue Reading