Tests of the random walk hypothesis for equity markets: evidence from China, Hong Kong and Singapore

By Eduardo Jose Araújo Lima, Benjamin Miranda Tabak. 2004

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The Evolution of Stock Market Efficiency Over Time: A Survey of the Empirical Literature (2011, background): “On one hand, Laurence et al. (1997), Liu et al. (1997), Long et al. (1999) and Lima and Tabak (2004) conclude that the Chinese stock markets are weak-form efficient as their stock returns do not exhibit linear serial correlations.”
A comparison of variance ratio tests of random walk: A case of Asian emerging stock markets (2007, background): “Firstly, emerging stock markets in Asia have become increasingly important to the safety and vitality of the global financial markets as shown in recent studies (see Al-Khazali & Pyun, 2004; Khil & Lee, 2000; Lima & Tabak, 2004).”
Executive Compensation, Firm Performance, and Corporate Governance in China: Evidence from Firms Listed in the Shanghai and Shenzhen Stock Exchanges (2006, unknown): “…numerous studies have testified directly or indirectly to the efficiency of the stock market in China (Chen, Kwok, and Rui 2001; Bai et al. 2004; Lima and Tabak 2004), we recognize that it is a continuing debate and our results need to be interpreted with caution.58 Finally, an alternative way…”