The far reaching implications of Fama’s efficient markets hypothesis: non-predictability of media investments

Martin T. Bohl, Thomas Ehrmann and Claudia Wellenreuther

Applied Economics Letters, 2020, vol. 27, issue 18, 1505-1508

Abstract: In this paper we show, that approaches used to forecast the success of media investments can be challenged on the basis of the efficient markets hypothesis. Moreover, we present new empirical evidence which supports our argumentation in favour of the non-predictability of the success of media investments.

Date: 2020
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DOI: 10.1080/13504851.2019.1693014

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