Indian and Chinese Stock Markets Found Inefficient, Investors Can Earn Excess Returns
The article discusses the efficiency of Indian and Chinese stock markets from 2003 to 2013. By analyzing market indices data, the researchers found that these emerging markets are not efficient in terms of using past information to predict future returns. This means investors can make extra profits by looking at historical market data. The study suggests that efforts should be made to improve the informational efficiency of these markets.