Considerations about the Informational Efficiency of Financial Markets

Oprean Camelia () and Bratu Renate ()
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Oprean Camelia: „Lucian Blaga” University of Sibiu, Faculty of Economics,
Bratu Renate: „Lucian Blaga” University of Sibiu, Faculty of Economics,
Authors registered in the RePEc Author Service: Camelia Oprean-Stan

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 1570-1575

Abstract: The paper proposes a critical analysis, based on consistency criteria, regarding the controversed current state of the informational efficiency theory of the capital market (Efficient Market Hypothesis). Nowadays, after several decades of research and thousands of studies, economists have not yet reached a consensus about the existence of efficient financial markets in terms of information. In the problematized approaches regarding the treated subject, one can find the inquiries on the validity of assumptions underlying the concept of informational efficient market and the informational efficiency theory of the financial market. In this sense, the critical approach is one that highlights the weaknesses, the vulnerable aspects that characterize the classical form of EMH theory, in order to exclude a cumulative process, achieved by extending or articulating the methodological and instrumental existing premises (based on optimality criteria - the current paradigm of economics), aiming their reconsideration and reconstruction.

Keywords: efficient market hypothesis; information; rationality; price (search for similar items in EconPapers)
JEL-codes: D8 G00 G14 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1570-1575

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