Testing the random walk hypothesis on Swedish stock prices: 1919-1990

Article Abstract:

An analysis of the random walk hypothesis' application on stock price variations is presented. Theanalysis considers data from the Swedish stock exchange from 1919-1990 and applies tests of variance ratio and autoregression of multiperiod returns. It is shown that Swedish stocks have not exhibited random walk tendencies for the past 72 years. These results imply the development of large portfolios for long-term management.

Analysis, Sweden, Securities, Random walks (Mathematics), Random walk theory

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The components of bid-ask spreads on the London Stock Exchange

Article Abstract:

Research into the elements of bid-ask spread of prices on the London Stock Exchange, England, is presented, with focus on the identification of three separate cost components which vary according to the liquidity of stocks.

Common Stocks, Observations, Liquidity (Finance)

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Political elections and the resolution of uncertainty: The international evidence

Article Abstract:

The behavior of 33 countries' stock market indices during political elections between 1974 and 1995 were studied.

Index numbers (Economics)

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