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| Tekijä: | Chiang, R. Fong, W.-M. |
| Otsikko: | Relative informational efficiency of cash, futures, and options markets: the case of an emerging market |
| Lehti: | Journal of Banking and Finance
2001 : FEB, VOL. 25:2, p. 355-375 |
| Asiasana: | FUTURES MARKETS OPTIONS HONG KONG |
| Vapaa asiasana: | LEAD-LAG RELATIONSHIPS |
| Kieli: | eng |
| Tiivistelmä: | The authors study the lead-lag relationships among the spot, futures, and options markets on Hong Kong's Hang Seng Index (HSI). The young options market experiences this trading, and the option returns lag the cash index returns. The more mature futures market experiences active trading. Yet its lead over the cash index appears to be less than the counterparts in other countries. |
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