TY  - JOUR
PY  - 2012//
TI  - Testing equity market efficiency around terrorist attacks
JO  - Applied economics
A1  - Coleman, Les
SP  - 4087
EP  - 4099
VL  - 44
IS  - 31
N2  - 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>
LA  - en
SN  - 0003-6846
UR  - http://dx.doi.org/10.1080/00036846.2011.587778
ID  - ref1
ER  -