Are Asian stock markets efficient? Evidence from new multiple variance ratio tests ☆

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How researchers see this paper

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Financial crisis and stock market efficiency: Empirical evidence from Asian countries (2008, background): “This issue was only taken up recently by Kim and Shamsuddin (2006), Cheong, Nor, and Isa (2007) and Hoque, Kim, and Pyun (in press).”
Efficient market hypothesis in European stock markets (2008, methodology): “In a very recent study, Kim and Shamsuddin (2008b) analyze a set of 53 international equity markets, including the six markets we cover in this study.”
Carbon trading thickness and market efficiency (2010, unknown): “[17] Kim, J.”
The Evolution of Stock Market Efficiency Over Time: A Survey of the Empirical Literature (2011, methodology): “It becomes almost ubiquitous after the outbreak of the Asian financial crisis, as many stock exchanges around the world have some forms of limit rules in place (see Kim and Yang, 2004, Table 2).”
VARIANCE-RATIO TESTS OF RANDOM WALK: AN OVERVIEW (2009, unknown): “The VR tests have been widely used and their applications have often covered emerging markets: Asian markets (Kim and Shamsuddin, 2008; Hoque et al., 2007), Eastern European markets (Smith and Ryoo, 2003), African markets (Smith et al., 2002; Al-Khazali et al., 2007; Lagoarde-Segot and Lucey, 2008)…”
Stock return predictability and the adaptive markets hypothesis: Evidence from century-long U.S. data (2011, unknown): “, Lo, A.W. and MacKinlay, A.C. (1997) The Econometrics of Financial Markets.”