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- W3122789906 abstract "In this study we re-examine the presence of random walk in stock prices in Brazil and Mexico. We employ variance ratio tests on weekly stock returns for indexes as well as individual firms. The results reveal mean aversion in Mexico at both the index and firm level. In contrast, the Brazil indexes show a greater tendency toward random walk; however, the results for the individual firms suggest mean reversion. The results cannot be attributed to a firm size effect. Evidence is presented in favor of a greater degree of nonsynchronous trading for Brazilian securities than for Mexican securities." @default.
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- W3122789906 date "1999-03-21" @default.
- W3122789906 modified "2023-09-23" @default.
- W3122789906 title "Random Walk Tests for Latin American Equity Indexes and Individual Firms" @default.
- W3122789906 hasPublicationYear "1999" @default.
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