Question

Select from the literature a couple of leading papers on empirical efficient market hypothesis testing (at least one from the US stock market, and at least one from a foreign stock market - possibly from an emerging economy) and discus them thoroughly, while addressing the issue of market maturity and regulations affecting information efficiency and technical efficient of the stock market in question. You discussion should include the following parts:

- importance of the study,
- implications of the paper,
- contribution of the paper to the EMH testing,
- methodology and data used in the research,
- interpretations of findings,
- limitations and recommendation for further research.

Answer 1