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Erschienen in:
2014 | OriginalPaper | Buchkapitel
Infrastructure: The Efficient Market Hypothesis
verfasst von : Doron Kliger, Gregory Gurevich
Erschienen in: Event Studies for Financial Research
Verlag: Palgrave Macmillan US
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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.