Malaysian Securities Market: Indicator, Risk, Return, Efficiency and Inter-Market Dependence by Kok Kim Lian, Goh Kim Leng [Hardcover]
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Published: 1995
Author: Kok Kim Lian, Goh Kim Leng
Publisher: Pelanduk Publications
Genre: Malay literature
Paperback: 141 pages
Condition: 8/10 (Used, good condition)
The book Malaysian Securities Market deals with important issues pertaining to the Malaysian stock market. It addresses the major considerations in the construction of a stock market index which is used to measure the performance of the overall stock market or a sector of the market. It includes a detailed description of the construction of the Kuala Lumpur Stock Exchange Composite Index and the all-share Emas Index.
This book guides the reader to the betas used to measure the systematic risk of the stocks and these are computed for all stocks listed on the KLSE. The stability and predictability of the beta coefficients of the component stocks of the KLSE Composite Index are carefully analysed to help indicate their usefulness. In the context of forecast capability, different beta estimators are considered. The usefulness of betos in predicting the future returns of the securities is also explicated.
The later chapters of the book look at the issue of market efficiency. The weak form efficiency and mean reversion of the KLSE (now Bursa Malaysia) are first examined, followed by an analysis of the Malaysian share price behaviour using the well-accepted information theory approach. The study of weak form efficiency is extended to include some selected Asia-Pacific countries. Finally, the inter-relatedness between the Malaysian stock market and these markets is meticulously reviewed.
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