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An empirical examination of price behavior on the Hong Kong stock market

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dc.contributor.authorGuo, Enyangen
dc.contributor.committeechairKeown, Arthur J.en
dc.contributor.committeememberBonomo, Vittorio A.en
dc.contributor.committeememberHansen, Robert S.en
dc.contributor.committeememberKumar, Ramanen
dc.contributor.committeememberMorgan, George I.en
dc.contributor.committeememberShome, Dilip K.en
dc.contributor.departmentAccounting and Information Systemsen
dc.date.accessioned2014-03-14T21:20:57Zen
dc.date.adate2005-10-13en
dc.date.available2014-03-14T21:20:57Zen
dc.date.issued1990-07-18en
dc.date.rdate2005-10-13en
dc.date.sdate2005-10-13en
dc.description.abstractThis dissertation examines stock price behavior on the Hong Kong stock market in terms of normality of returns and the efficiency of that market. The results reveal that the Hong Kong stock market is efficient, although the degree of efficiency is somewhat different from what has been found for securities traded in the U.S. market. Moreover, it was found that as a small but active stock market, the Hong Kong market is sensitive and highly vulnerable to international events. The study also analyzes the relationship among different national equity markets, i.e., the U.S., the U.K., Japan, and Hong Kong. The results show that a substantial amount of multi-lateral interaction is present among national equity markets. In addition, some common seasonal patterns of stock price movements appear across the different national markets, and innovation transmissions from market to market are significant and efficient. The study provides added support to the hypothesis of an integrated world financial market.en
dc.description.degreePh. D.en
dc.format.extentix, 148 leavesen
dc.format.mediumBTDen
dc.format.mimetypeapplication/pdfen
dc.identifier.otheretd-10132005-152510en
dc.identifier.sourceurlhttp://scholar.lib.vt.edu/theses/available/etd-10132005-152510/en
dc.identifier.urihttp://hdl.handle.net/10919/39803en
dc.language.isoenen
dc.publisherVirginia Techen
dc.relation.haspartLD5655.V856_1990.G866.pdfen
dc.relation.isformatofOCLC# 23006505en
dc.rightsIn Copyrighten
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subject.lccLD5655.V856 1990.G866en
dc.subject.lcshStock exchanges -- China -- Hong Kongen
dc.subject.lcshStocks -- Prices -- China -- Hong Kongen
dc.titleAn empirical examination of price behavior on the Hong Kong stock marketen
dc.typeDissertationen
dc.type.dcmitypeTexten
thesis.degree.disciplineAccounting and Information Systemsen
thesis.degree.grantorVirginia Polytechnic Institute and State Universityen
thesis.degree.leveldoctoralen
thesis.degree.namePh. D.en

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