@article{ref1,
title="Testing equity market efficiency around terrorist attacks",
journal="Applied economics",
year="2012",
author="Coleman, Les",
volume="44",
number="31",
pages="4087-4099",
abstract="This article uses the nine major bombings since 1998 that have been attributed to Al Qaida to examine market efficiency, including a test of rumours that investors traded with advance knowledge of attacks. Analysis of these related, but individually unexpected, events confirms markets are semi-strong efficient: it now takes well under a trading day to fully price in a completely unexpected attack. On balance, markets also proved strongly efficient with no conclusive evidence of insider trading.<p /> <p>Language: en</p>",
language="en",
issn="0003-6846",
doi="10.1080/00036846.2011.587778",
url="http://dx.doi.org/10.1080/00036846.2011.587778"
}