Evidence on the Efficient Market Hypothesis from 44 Global Financial Market Indexes
Figure 2
The probability distribution of being the most influential day(s) on daily levels of world market indexes within 30 lagged operating days. The INDEX variables imply the average impact from the world financial market to its C/H/L/O/V levels across markets. The horizontal axis is the dates in the test window. The statistical significance level of Granger causality test is .
