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dc.contributor.supervisor Asem, Ebenezer
dc.contributor.supervisor Yalamova, Rossitsa
dc.contributor.author Zhang, Xiaofei
dc.contributor.author University of Lethbridge. Faculty of Management
dc.date.accessioned 2014-07-04T17:48:46Z
dc.date.available 2014-07-04T17:48:46Z
dc.date.issued 2012
dc.identifier.uri https://hdl.handle.net/10133/3460
dc.description viii, 66 leaves ; 29 cm en_US
dc.description.abstract This study examines the effects of changes in stock market microstructure on internal market efficiency and explores the relations among internal market efficiency, market co-movement and cross-market efficiency using evidence from Shanghai and Hong Kong stock exchanges. The results show that changes in the market microstructure have significant effects on the internal market efficiencies of the two markets. Second, the developed market (Hong Kong stock exchange) is not always more efficient than the emerging market (Shanghai stock exchange). Third, the cross-market efficiency is only affected by the internal market efficiency of the emerging market during normal economic conditions, but is determined by the internal market efficiency of the emerging market and the market co-movement during the financial crisis period. Finally, this study confirms Dwyer and Wallace's (1992) statement that strong market co-movement does not apply cross-market inefficiency. en_US
dc.language.iso en_CA en_US
dc.publisher Lethbridge, Alta. : University of Lethbridge, Faculty of Management, c2012 en_US
dc.relation.ispartofseries Thesis (University of Lethbridge. Faculty of Management) en_US
dc.subject Hong Kong Stock Exchange en_US
dc.subject Shanghai Stock Exchange en_US
dc.subject Stock exchanges en_US
dc.subject Efficient market theory en_US
dc.subject Dissertations, Academic en_US
dc.title Role of market microstructure in the relationship between market co-movement and market efficiency en_US
dc.type Thesis en_US
dc.publisher.faculty Management en_US
dc.degree.level Masters en_US
dc.proquestyes No en_US


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