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AG912 Tutorial 7
AG912 Tutorial 7
Tutorial 7
Tutorial Questions:
To what extent is the UK financial system efficient by these criteria? Linton (2011) may
provide some ideas.
How does that compare to other countries you have experience of? You can also use for
instance Patel et al (2012), Sheefeni (2015), or Simões et al (2012) to arrive at an answer
to this question.
Reading: HB ch 12 / ME ch 6
Additional reading *:
Dimson, E., and Mussavian, M. (2000) ‘Market Efficiency’, Current State of Business
Disciplines 3, pp. 959-970. Available at:
https://pdfs.semanticscholar.org/2c4d/b14782fe222e2fdb53913e83e938e3744d14.
pdf (accessed 28 August 2018)
Please focus on question 5 in the Linton(2011) paper (see page 6): Linton, O. (2011)
‘What has happened to UK Equity Market Quality in the last decade? An analysis of
the daily data’, Foresight Project Report. Available at:
http://www.bis.gov.uk/assets/foresight/docs/computer-trading/11-1220-dr1-what-has-
happened-to-uk-equity-market-quality-in-last-decade (accessed 28 August 2018)
** Patel, N.R., Radadia, N., and Dhawan,J. (2012) ‘An Empirical Study on Weak-Form
of Market Efficiency of Selected Asian Stock Markets’, Journal of Applied Finance &
Banking 2(2), pp. 99-148. Available at: http://www.scienpress.com/Upload/JAFB/Vol
%202_2_5.pdf (accessed 28 August 2018)
** Sheefeni, J.P.S. (2015) ‘Testing the Strong-Form Efficiency of the Namibian Stock
Market’, International Review of Research in Emerging Markets and the Global
Economy 1(4), pp.474-486. Available at:
http://globalbizresearch.org/files/6034_irrem__johannes-peyavali-sheefeni-sheefeni-
163526.pdf (accessed 28 August 2018)
** You do not need to read all three papers, selecting one is fine.