SPECULATIVE EFFICIENCY OF STOCK INDEX FUTURES MARKETS: AN ANALYSIS ON THE ASEAN MARKETS

Normas AWANG; İzani IBRAHİM; Rasidah Mohd SAİD; Saiful Bahri SUFAR

Article Details

SPECULATIVE EFFICIENCY OF STOCK INDEX FUTURES MARKETS: AN ANALYSIS ON THE ASEAN MARKETS

Authors:

Normas AWANG | İzani IBRAHİM | Rasidah Mohd SAİD | Saiful Bahri SUFAR

Publisher:

Sosyal Bilimler Araştırmaları Derneği

Journal:

International Journal of Economics and Finance Studies 2012 Vol.4 Issue 1, pp.159-170

Document Type:

Article

Publication Date:

5/2012

Document Language:

Turkish

Document ID (Org No.):

2000811160

Frequency:

Bi-Annual

eISSN:

1309-8055

Abstract:

 

The capital markets in emerging economies are undergoing rapid transformation
 due to the advancement of technological innovations and globalization of the
 marketplace. Thus, the risk management measures are extremely important
 throughout the financial system. However, the scarcity of derivative instruments
 such as futures and options in emerging markets, in addition to the failure to
 generate liquidity, have made the emerging economies to be left behind in the
 recent development of the world capital markets. While there are a great number
 of earlier studies that analyse the efficiency of futures markets in different
 countries, there is a lack of research that take into account of the speculative
 efficiency of futures markets which argues that futures prices are an unbiased 
 forecast of the spot prices as well as a crucial part of forecasting techniques. This
 paper aims to investigate the speculative efficiency of stock index futures markets
 in the ASEAN markets which comprises of Singapore, Malaysia and Thailand by
 employing an econometric time series data analysis ranging from January 2000 to
 December 2010.

Article Details

SPECULATIVE EFFICIENCY OF STOCK INDEX FUTURES MARKETS: AN ANALYSIS ON THE ASEAN MARKETS

Authors: Normas AWANG | İzani IBRAHİM | Rasidah Mohd SAİD | Saiful Bahri SUFAR

Publisher: Sosyal Bilimler Araştırmaları Derneği

Journal: International Journal of Economics and Finance Studies 2012 Vol.4 Issue 1, pp.159-170

Document Type: Article

Publication Date: 5/2012

Document Language: Turkish

Document ID (Org No.): 2000811160

Frequency: Bi-Annual

eISSN: 1309-8055

Issues

Authors:

Normas AWANG | İzani IBRAHİM | Rasidah Mohd SAİD | Saiful Bahri SUFAR

Publisher:

Sosyal Bilimler Araştırmaları Derneği

Journal:

International Journal of Economics and Finance Studies 2012 Vol.4 Issue 1, pp.159-170

Document Type:

Article

Publication Date:

5/2012

Document Language:

Turkish

Document ID (Org No.):

2000811160

Frequency:

Bi-Annual

eISSN:

1309-8055