Bibliographic record
Abstract
In an attempt to examine efficiency of South Korea's stock market (SKM), Narayan and Smyth (2004 Narayan, KP and Smyth, R. 2004. Is South Korea's stock market efficient?. Applied Economics Letters, 11: 707–10. [Taylor & Francis Online], [Web of Science ®] , [Google Scholar]) used a battery of unit root tests to investigate the random walk hypothesis and on the basis of the reported evidence for unit root, they concluded that the SKM is efficient. The authors have unfortunately confused random walk with unit root hypothesis. The present note stresses the fact that it is insufficient to test for stationarity when examining efficiency, casting serious doubt on Narayan and Smyth's conclusions. Furthermore, we provide comments on the shortfalls of the unit roots tests employed and not accounted for in Narayan and Smyth's study which may lead to spurious results.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.002 | 0.005 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; both teacher heads agree on what is shown here.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".