00000caa a22000003i 4500 UP-1685594773862388424 Buklod 20210312092234.0 m | | ta 210604s2013 xx a r |||| u|eng d 16551516 (iLib)UPBAG-00039458426 BAG rda eng ARTICLE-2625 Rufino, Cesar C. author. Random walks in the different sectoral submarkets of the Philippine stock exchange amid modernization Cesar C. Rufino. [Quezon City] School of Economics, University of the Philippines 2013. pages 57-82 4billustrations 23 cm text rdacontent unmediated rdamedia volume rdacarrier Title was 'Philippine Review of Business and Economics' until 1979. Title changed to 'Philippine Review of Economics and Business' from 1980-2000, and again changed to 'Philippine Review of Economics' since 2001. Includes bibliographical references (pages 77-79) This study explores the weak-form efficiency of the Philippine Stock Exchange (PSE) and its different sectoral markets using modern inference techniques with robust statistical properties. The research is motivated by the lack of consensus in the literature on the informational efficiency of the country's stock market and the apparent scarcity of studies on the same issue using data covering the period of massive modernization of the exchange, geared toward transparent disclosures and integrity of transactions. The study may also be considered a fitting assessment of why the PSE is setting the pace over most stock exchanges in Asia in terms of growth levels across key stock market indicators, culminating in a highly successful year 2012 when it ranked ninth among the ten best-performing stock markets of the world. Evidence presented by the results of the study suggests the presence of overall informational efficiency in the Philippine Stock Exchange during the period under review. Philippine Stock Exchange. Stocks Prices Philippines Econometric models. Stock exchanges Philippines. The Philippine Review of Economics Vol. 50, no. 1 (June 2013), p. 57-82. Request full-text access via UPB University Library through https://forms.gle/KZjBv7aRtY6jiL5E9 FI UPBAG UPBAG-MAIN ARTICLE-2625 Analytics