A financial econometric analysis of E-Commerce stock price predictability / Kok-Boon Oh and Sardar M. N. Islam
The predictability of stock price changes has been a contentious issue in finance for a long period of time. Using the Australian e-commerce financial data for determining the equity value of e-commerce firms, this paper provides an empirical analysis of the issue of predictability of stock prices....
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Research Management Institute (RMI)
2012
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| Subjects: | |
| Online Access: | https://ir.uitm.edu.my/id/eprint/10345/2/10345.pdf https://ir.uitm.edu.my/id/eprint/10345/ https://smrj.uitm.edu.my/ |
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| Summary: | The predictability of stock price changes has been a contentious issue in finance for a long period of time.
Using the Australian e-commerce financial data for determining the equity value of e-commerce firms, this paper provides an empirical analysis of the issue of predictability of stock prices. The factors contributing to the predictability of equity prices in the e-commerce markets are identified, analyzed and the issues and implications are discussed and explained. This paper presents new approaches to econometric specification, estimation and testing in relation to e-commerce stock predictability including stationarity tests, co-integration modeling and analyses. The policy implications of the empirical findings are stated. The empirical findings of the Australian study are extrapolated and inferences are made for other countries. |
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