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The aim of this paper is to discuss the presence of stock price momentum post the 2008 credit crisis and explore its implications for market participants in South Africa. This study investigates whether momentum was evident on the JSE from 2009 to 2014. Using different indicators of momentum, this paper simulates the possible investment choices using these indicators. [ABSTRACT FROM AUTHOR]

Highlights: [•] We examine whether BRIC equity markets are weak form efficient in the recent years. [•] We use data including recent crisis and compare with developed benchmark. [•] The findings reflect that the markets reveal a state of being fairly weak-form efficient. [Copyright &y& Elsevier]

Abstract: We test the information efficiency of the market for SO2 permits in the US. In order to do so, we analyse the price process of these permits using techniques that have been widely used in financial economics. The evidence presented in this paper suggests that this market is efficient from an informational point of view. Although one could question this hypothesis from a statistical point of view, economic significance suggests that this market is indeed efficient. [Copyright &y& Elsevier]

We present the results of two efficiency measures that include intraday return predictability measure based on order imbalance and measures of several variance ratio tests on intraday subsamples of nine major Indian agricultural commodity futures (castor seed, cotton oil cake, rape mustard seed, soybean, refined soya oil, crude palm oil, jeera, chana, and turmeric) quoted in the National Commodity and Derivatives Exchange (NCDEX). We perform the efficiency measures on five subsamples with holding periods of 5, 10, 15, 30, and 60 min over two sample periods following the announcement of the merger between the Forward Market Commission (FMC) and Securities Exchange Board of India (SEBI). We compare results of tests of weak-form market efficiency of futures markets between two periods (pre-merger period and post-merger period). Our results confirm that Indian agricultural commodity futures markets continue to remain inefficient in the short-term during both pre-merger and post-merger periods. Based on these findings, it is likely that profitable trading strategies in the short intraday intervals will be available for traders and market participants during post-merger period. Thus, regulators must focus more on policy initiative so as to enhance market quality in order to address such inefficiencies in Indian commodity futures markets. [ABSTRACT FROM AUTHOR]