Infrastructure: The Efficient Market Hypothesis

Doron Kliger and Gregory Gurevich

Chapter Chapter 2 in Event Studies for Financial Research, 2014, pp 5-18 from Palgrave Macmillan

Abstract: Abstract During the past several decades, the efficient market hypothesis (EMH) has been recognized as one of the basic building blocks of modern financial economics. Due to the profound effect of EMH on financial thought, researchers and practitioners nowadays perceive the rationale behind it as intuitive. In a nutshell, it asserts the following: as investors strive to earn profit from market trading, they exploit every useful piece of data, thereby causing market prices to reflect all of the relevant information at any given moment.

Keywords: Abnormal Return; Mutual Fund; Event Study; Hedge Fund; Market Reaction (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-36879-9_2

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DOI: 10.1057/9781137368799_2

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