Indonesian Capital Market Review
Vol. 11, No. 2

The Impact of Trade Openness and Financial Openness on Information Efficiency of Five ASEAN Countries’ Stock Market 2000-2014

Nugroho, Setyo (Unknown)
Danarsari, Dwi Nastiti (Unknown)

Article Info

Publish Date
30 Jul 2019

Abstract

This paper investigates the impact of trade openness and financial openness towards informationefficiency of the ASEAN countries’ stock market. The sample consists of the five most developedstock markets in the ASEAN region – Indonesia, Malaysia, the Philippines, Singapore, and Thailand, covering research period of 2000-2014. This study employs panel data analysis in the model. The result suggests that, when Singapore is excluded from the sample, de facto trade openness has a negative impact on information efficiency, while de facto financial openness has a positive impact on information efficiency. De jure measure is shown to have no significant impact on information efficiency.

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Journal Info
Indonesian Capital Market Review
Website

Abbrev

publication:icmr

Publisher

Universitas Indonesia

Subject

Economics, Econometrics & Finance

Description

The intent of the Editors of The Indonesian Capital Market Review is to discuss, to explore, and to disseminate the latest issues and developments in Empirical Financial Economics particularly those related to financial frictions in the Emerging Markets. The topics cover capital markets, financial ...