Real estate market efficiency: Evidence from Chinese cities

Journal of Harbin Institute of Technology (New Series)

Volumn 11, Issue 6, 2004, Pages 664-670

  Zheng, Si Qi ^a   Liu, Hong Yu ^a   Sun, Bing ^a  

^a TSINGHUA UNIVERSITY   (China)

Author keywords

Information cost; Market efficiency; Real estate; Searching time

Indexed keywords

CORRELATION THEORY; DECISION THEORY; FUNCTIONAL ASSESSMENT; HOUSES; INFORMATION ANALYSIS; INSTRUMENTS; STATISTICAL METHODS;

CHINESE CITIES; INFORMATION COST; MARKET EFFICIENCY; MARTINGALE DIFFERENCE SEQUENCE (MDS); METHODOLOGY; REAL ESTATE; SEARCHING TIME; TRANSACTION FREQUENCY;

HOUSING;

EID: 13644280472     PISSN: 10059113     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (8)

1. FU Yuming, NG Lilian K. Market efficiency and return statistics: Evidence form real estate and stock markets using a present-value approach[J]. Real Estate Economics, 2001, 29: 227-250.
2. CASE K E, SHILLER R J. The efficiency of the market for single-family homes[J]. The American Economic Review, 1989, 79(1): 125-137.
3. CLAYTON J. Further evidence on real estate market efficiency[J]. Journal of Real Estate Research, 1998, 15(1/2): 41-57.
4. LO A, Mackinlay A. Stock market prices do not follow a random walk: evidence from a simple specification test[J]. Review of Financial Studies, 1998, 1(1): 41-66.
5. URRUTIA J L. Tests of random walks and market efficiency for Latin American emerging equity markets[J]. Journal of Financial Research, 1995, 18: 299-309.
6. LONG M D, PAYNE J D, FENG C. Information transmission in the shanghai equity markets[J]. Journal of Financial Research, 1999, 22(1): 29-45.
7. COCHRANE J. How big is the random walk in GDP?[J]. Journal of Political Economy, 1988, 96: 893-920.
8. DTZ Research. DTZ Real Estate Indices of China Mainland[J]. 2003 Q1, 2003: 1-4.