efficient market hypothesis (emh) การใช้

• Among classics financial theory , efficient market hypothesis ( emh ) is the core of the quantity capital market theory all the time , and it is one of the theoretical foundation of modern financial economics at the same time
• In this thesis , the efficiency of stock market is defined as two aspects : information efficiency and function efficiency . efficient market hypothesis ( emh ) has studied the relationship between stock price and information in stock market
• Although the efficient market hypothesis ( emh ) is the core theory of the pricing efficiency of capital market , emh is " the revolution of rational expectation " in some meaning according to author ' s view
• Fama and french wrote an article for the journal of finance in the year of 1992 . they thought that p is unrelated to stock return . this view is strongly against the key thought of capm and directly against the efficient market hypothesis ( emh )
• At present , the researches about pricing efficiency are all based on efficient market hypothesis ( emh ) both at home and abroad . but many researchers do not truly understand emh , and many concepts have not been clarified , even the existence and tenable conditions of emh have not been fully understood
• In this paper , the newest empirical test of efficient market hypothesis ( emh ) was done in terms of the empirical test of capital asset pricing model ( capm ) . because of the logical relationship between emh and capm , we tried to use a new method to find whether the emh theory is available in china ' s stock market . we did our research on the basis of emh ( efficient market hypothesis )
• The forepart theories studying about the investors " behavior in the securities market are the classical financial theories as efficient market hypothesis ( emh ) and modern assets portfolio theory ( apt ) . but some abnormal phenomenon in the securities market could n ' t be explained by those classical financial theories . the rational man hypothesis and valid market theory are especially wildly oppugned
• Seasonality effect is the abnormal returns connected with the calendar . the existence of the seasonality is a strong challenge to the efficient market hypothesis ( emh ) . for that reason , among others , seasonality effect has been drawing enough attentions from both policy makers and market investors
• In the last chapter , we managed to put forward some useful idea to help develop the efficiency of china ' s stock market from the point of view of law , market and political system . in 50 ' s of 20 century , the famous professor eugene fama introduced the idea of efficient market hypothesis ( emh ) , which means that the information available on the asset market can be found in the price of assets without delay and fault
• Traditional capital market theories are studied in the frame of neoclassical economics . as the core of neo - classical economics , efficient market hypothesis ( emh ) has always being the foundation of capital market theories . many classical capital market theories are developed on the basis of emh or on some bases closely related with it
• Firstly , this paper makes clear the meaning of stock markets " efficiency through different perspectives , and then introduces the efficient market hypothesis ( emh ) and fractal market hypothesis ( fmh ) . as one important part of rational anticipation theory , emh is the foundation of capital market theories , but the linear paradigm of emh does not conform to the stock market realities
• The thesis , somehow , is a summary , which expounds the main contents of traditional portfolio theory ( tpt ) and mpt , also gives a comparison between tpt and mpt ; analyses two aspects of markowitz theory , one is the effects of risk disperses and the demonstration , the other is how to make an optimal portfolio strategy ; researches into capital assets pricing model ( capm ) , factor model ( fm ) and arbitrage pricing theory ( apt ) respectively in three parts ; studies another two parts , one is the premise of mpt , which is the efficient market hypothesis ( emh ) , the other analyses the behavior finance theory ( bft ) produced in the background of challenging and querying to emt and capm . the thesis finally discusses the researching and applying prospects of mpt in china