Market efficiency and equity pricing: international evidence and implications for global investing
Author: Hawawini, Gabriel INSEAD Area: Finance In: International finance: contemporary issues - Das, Dilip K. - 1993 - Book Language: EnglishDescription: p. 291-318.Type of document: INSEAD ChapterNote: Please ask us for this itemAbstract: In this chapter we examine the notion of market efficiency and present a survey of the international evidence regarding the validity of the efficient market hypothesis (EMH). The focus is on the most recent evidence which is generally at odds with this hypothesis. We also investigate the validity of the CAPM and the arbitrage pricing theory as descriptors and predictors of common stock returns in various stock exchanges around the world. Throughout the chapter we examine the implications of our findings for global portfolio management| Item type | Current location | Collection | Call number | Status | Date due | Barcode | Item holds |
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Digital Library | Available | BC000613 |
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In this chapter we examine the notion of market efficiency and present a survey of the international evidence regarding the validity of the efficient market hypothesis (EMH). The focus is on the most recent evidence which is generally at odds with this hypothesis. We also investigate the validity of the CAPM and the arbitrage pricing theory as descriptors and predictors of common stock returns in various stock exchanges around the world. Throughout the chapter we examine the implications of our findings for global portfolio management
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