Книга: Lan Sun «Capital Market Efficiency and Stock Price Anomalies»
|
Производитель: "LAP Lambert Academic Publishing" The efficient market hypothesis (EMH), well known as the random walk theory, proposes that stock prices should fully, immediately, reflect all available relevant information about the value of the firm. The concept of capital market efficiency is central to finance. If the efficient market hypothesis holds, the stock prices should fully reflect all relevant information about the firm value. As a consequence, investors cannot expect to achieve excess returns from their investment strategies. While the idea market efficiency offers an important implication to investors, studies show that the efficient market theory has been challenged. Various anomalies have been documented in the last two decades that contradicts to the efficient market hypothesis. This study reviews the theory and evidence of market efficiency and particularly it investigates a number of anomalies including PE ratio, Price-to-book ratio and firm size effects in Australia. ISBN:9783659136610 Издательство: "LAP Lambert Academic Publishing" (2012)
ISBN: 9783659136610 |
См. также в других словарях:
Market anomaly — A market anomaly (or market inefficiency) is a price and/or return distortion on a financial market that seems to contradict the efficient market hypothesis.[1][2] The market anomaly usually relates to: Structural factors, such as unfair… … Wikipedia
Market data — Example of a stock chart, the stock shown is SourceForge, Inc. In finance, market data is quote and trade related data associated with equity, fixed income, financial derivatives, currency, and other investment instruments. Market data is… … Wikipedia
Efficient-market hypothesis — Financial markets Public market Exchange Securities Bond market Fixed income Corporate bond Government bond Municipal bond … Wikipedia
Comparison of Canadian and American economies — The economies of Canada and the United States are extremely similar because they are both developed countries and are each other s largest trading partners. However, key differences in population makeup, geography, government policies and… … Wikipedia
Eugene Fama — Chicago School Of Economics Eugene Fama (left) winning the inaugural Morgan Stanley American Finance Association Award … Wikipedia
Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… … Universalium
