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A NOTE ON SOME ‘WEAK FORM’ TESTS OF CAPITAL MARKET EFFICIENCY IN NEW ZEALAND*
*
The author acknowledges the assistance of the Australian Graduate School of Management, particularly through the provision of computing facilities.
Abstract:
This paper reports the results of some experiments designed to test the ‘weak form’ efficiency of the New Zealand Stock Market The experiments were tests of serial correlation for various lags, and runs tests. The evidence suggests that the New Zealand market, at least as reflected in those securities tested, is essentially weak-form efficient
