Matches in SemOpenAlex for { <https://semopenalex.org/work/W3122367736> ?p ?o ?g. }
- W3122367736 endingPage "246" @default.
- W3122367736 startingPage "229" @default.
- W3122367736 abstract "Political, economic and legal risks are among the causes of market inefficiency and the consequent under-development of financial markets. To further the understanding of the factors affecting market development, this study evaluates the Athens Stock Exchange (ASE). The Greek market provides a unique opportunity to isolate market efficiency as a factor in market development. Since its membership to the European Union (EU) in 1981, political and legal risks in the Greek market are similar to those of the other EU member countries such as the U.K., Germany and France. Greece's inclusion in the Eurozone in 2000 has eliminated many of the economic risks. The unrealized potential of the ASE is therefore questioned. Considering the relatively small number of stocks in the ASE, market level analysis is potentially inappropriate: studies may be rejecting the ASE's efficiency due to irregularities in a few influential stocks. Thus, this study analyzes the efficiency of the ASE by evaluating the market's, as well as individual stocks’, returns. A well documented anomaly for the ASE, the day-of-the-week effect, is evaluated as are return predictability tests including a runs test, causality from other markets, and causality from liquidity. Both on the market level and on the individual level, evidence of inefficiencies are found. Based on the evidence that about 94% of Greek stocks’ returns are Granger-caused by at least one foreign market, it is concluded that the Greek market lacks the appeal for international diversification. Overall, the ASE's unrealized potential is blamed on lingering market inefficiencies and especially on its causal relationship with international markets." @default.
- W3122367736 created "2021-02-01" @default.
- W3122367736 creator A5038061958 @default.
- W3122367736 creator A5069154075 @default.
- W3122367736 date "2011-04-01" @default.
- W3122367736 modified "2023-09-28" @default.
- W3122367736 title "Greek market efficiency and its international integration" @default.
- W3122367736 cites W1482647844 @default.
- W3122367736 cites W1905171638 @default.
- W3122367736 cites W1976432723 @default.
- W3122367736 cites W1979575715 @default.
- W3122367736 cites W1999996900 @default.
- W3122367736 cites W2006568420 @default.
- W3122367736 cites W2017338493 @default.
- W3122367736 cites W2018442070 @default.
- W3122367736 cites W2048495543 @default.
- W3122367736 cites W2059822053 @default.
- W3122367736 cites W2062338819 @default.
- W3122367736 cites W2090637028 @default.
- W3122367736 cites W2126416005 @default.
- W3122367736 cites W2153146814 @default.
- W3122367736 cites W2165010140 @default.
- W3122367736 cites W3020944867 @default.
- W3122367736 cites W3121238223 @default.
- W3122367736 cites W3121397750 @default.
- W3122367736 cites W3121759882 @default.
- W3122367736 cites W3123129688 @default.
- W3122367736 cites W3123326355 @default.
- W3122367736 cites W3125935778 @default.
- W3122367736 cites W4230112405 @default.
- W3122367736 cites W4231546411 @default.
- W3122367736 cites W4232108232 @default.
- W3122367736 cites W4235671581 @default.
- W3122367736 cites W4239934782 @default.
- W3122367736 cites W4241893788 @default.
- W3122367736 cites W4242248547 @default.
- W3122367736 cites W4249141133 @default.
- W3122367736 cites W4256352880 @default.
- W3122367736 doi "https://doi.org/10.1016/j.intfin.2010.10.005" @default.
- W3122367736 hasPublicationYear "2011" @default.
- W3122367736 type Work @default.
- W3122367736 sameAs 3122367736 @default.
- W3122367736 citedByCount "9" @default.
- W3122367736 countsByYear W31223677362014 @default.
- W3122367736 countsByYear W31223677362015 @default.
- W3122367736 countsByYear W31223677362016 @default.
- W3122367736 countsByYear W31223677362021 @default.
- W3122367736 countsByYear W31223677362022 @default.
- W3122367736 crossrefType "journal-article" @default.
- W3122367736 hasAuthorship W3122367736A5038061958 @default.
- W3122367736 hasAuthorship W3122367736A5069154075 @default.
- W3122367736 hasConcept C10138342 @default.
- W3122367736 hasConcept C106159729 @default.
- W3122367736 hasConcept C144133560 @default.
- W3122367736 hasConcept C151730666 @default.
- W3122367736 hasConcept C162324750 @default.
- W3122367736 hasConcept C162853370 @default.
- W3122367736 hasConcept C17744445 @default.
- W3122367736 hasConcept C180916674 @default.
- W3122367736 hasConcept C19244329 @default.
- W3122367736 hasConcept C199539241 @default.
- W3122367736 hasConcept C200870193 @default.
- W3122367736 hasConcept C2778869765 @default.
- W3122367736 hasConcept C2780299701 @default.
- W3122367736 hasConcept C2780762169 @default.
- W3122367736 hasConcept C29368100 @default.
- W3122367736 hasConcept C34447519 @default.
- W3122367736 hasConcept C556758197 @default.
- W3122367736 hasConcept C63143784 @default.
- W3122367736 hasConcept C86803240 @default.
- W3122367736 hasConcept C94625758 @default.
- W3122367736 hasConceptScore W3122367736C10138342 @default.
- W3122367736 hasConceptScore W3122367736C106159729 @default.
- W3122367736 hasConceptScore W3122367736C144133560 @default.
- W3122367736 hasConceptScore W3122367736C151730666 @default.
- W3122367736 hasConceptScore W3122367736C162324750 @default.
- W3122367736 hasConceptScore W3122367736C162853370 @default.
- W3122367736 hasConceptScore W3122367736C17744445 @default.
- W3122367736 hasConceptScore W3122367736C180916674 @default.
- W3122367736 hasConceptScore W3122367736C19244329 @default.
- W3122367736 hasConceptScore W3122367736C199539241 @default.
- W3122367736 hasConceptScore W3122367736C200870193 @default.
- W3122367736 hasConceptScore W3122367736C2778869765 @default.
- W3122367736 hasConceptScore W3122367736C2780299701 @default.
- W3122367736 hasConceptScore W3122367736C2780762169 @default.
- W3122367736 hasConceptScore W3122367736C29368100 @default.
- W3122367736 hasConceptScore W3122367736C34447519 @default.
- W3122367736 hasConceptScore W3122367736C556758197 @default.
- W3122367736 hasConceptScore W3122367736C63143784 @default.
- W3122367736 hasConceptScore W3122367736C86803240 @default.
- W3122367736 hasConceptScore W3122367736C94625758 @default.
- W3122367736 hasIssue "2" @default.
- W3122367736 hasLocation W31223677361 @default.
- W3122367736 hasOpenAccess W3122367736 @default.
- W3122367736 hasPrimaryLocation W31223677361 @default.
- W3122367736 hasRelatedWork W1608505846 @default.
- W3122367736 hasRelatedWork W1789481737 @default.
- W3122367736 hasRelatedWork W1851028392 @default.