The concept of Efficient-Market Hypothesis
(EMH) was introduced by Eugene Fama in 1960.
This theory is consistent with the efficient-market hypothesis
To appreciate Halliburton's first argument, some background on efficient-market hypothesis
Second, the assumption that selling shares in a company will depress its share price is contrary to the efficient-market hypothesis
, or at least involves a degree of circular reasoning.
is often considered the father of the efficient-market hypothesis
Malkiel, for example, took apart Silver's efficient-market hypothesis
On the Efficient-Market Hypothesis
and stock exchange game model, Expert Systems with Applications 37(8): 5673-5681.
Event studies rest on the efficient-market hypothesis
, which states that any event that affects the future profitability of a firm is immediately reflected in the firm's security prices.
Even the most ardent defenders of the efficient-market hypothesis
were usually more subtle in their verbal presentations, but this nuance was glossed over owing to the primacy placed on the formal model for assessment.
Cohen, Polk, and Vuolteenaho measure the ability of the capital asset pricing model (CAPM) and the efficient-market hypothesis
to explain the level of stock prices.
The arbitrage-free, efficient-market hypothesis
The efficient-market hypothesis
, which is also covered in the P3 syllabus (although it's more usually considered part of F3), suggests that most real markets are likely to be at least "semi-strong efficient".