Efficient Market Theory versus Behavioural Finance The efficient market hypothesis implies that abnormal returns are expected to
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Efficient Market Theory versus Behavioural Finance The efficient market hypothesis implies that abnormal returns are expected to be zero. Yet in order for markets to be efficient, arbitrageurs must be able to force prices back into equilibrium. If they earn profits in doing so, is this fact inconsistent with market efficiency?
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The Efficient Market Hypothesis EMH posits that all available information is already reflected in asset prices and therefore it is impossible to consi...View the full answer
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Related Book For 
Corporate Finance
ISBN: 9780077173630
3rd Edition
Authors: David Hillier, Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan, Jeffrey F. Jaffe
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