Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 402211
Title Stock Market Efficiency in Thin Trading Markets: The Case of the Vietnamese Stock Market
Author(s) Dong Loc, T.; Lanjouw, G.; Lensink, B.W.
Source Applied Economics 42 (2010)27. - ISSN 0003-6846 - p. 3519 - 3532.
Department(s) Development Economics Group
Publication type Refereed Article in a scientific journal
Publication year 2010
Keyword(s) random-walk hypothesis - hong-kong - exchange - variance - behavior - returns - prices - index - tests
Abstract This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article focuses on the question whether the market is weak-form efficient. An important element of the investigation concerns the possible bias of the results caused by the thin trading that characterizes the STC. Stock-market returns are corrected for this. The main conclusion is that the STC is not efficient in the weak form.
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