摘要

Market efficiency means that stock prices fully depict the information available. This phenomenon gave rise to the efficient market hypothesis (EMH). Researchers have been testing this hypothesis and came up with interesting results. The present endeavor is an effort to find the roots of EMH, since it leads to evolution of an entirely new field in finance - behavioral finance. The study provides a chronological review of various research related to the EMH.

  • 出版日期2012