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ralph lauren polo

 
Dat Bue Lock
 
''The Taiwan stock market does follow a random walk''
( 2007, Vol. 7 No.3 )
 
 
Applying the Lo and MacKinlay variance ratio test on the weekly returns from the Taiwan stock market from 1990 to mid 2006, I obtained results strongly indicative of the fact that not only does the Taiwan composite stock index move in a random walk fashion, returns for the individual stocks do so as we. Previous authors employing the same methodology obtained opposite results, namely, that the movements of the Taiwan stock composite index do not follow a random walk.
 
 
Keywords: random walk
JEL: G0 - Financial Economics: General
 
Manuscript Received : Feb 06 2007 Manuscript Accepted : Mar 05 2007

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