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FINC 3610 -
Market Efficiency
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Market EfficiencyFINC 3610 ‐ YostMarket Efficiency274Market Efficiency• What is the Efficient Markets Hypothesis?–The set‐upThe setup– Prices reflect _____________…___________!– Therefore, no unusual or excess profits from trading on information.275Types of Market Efficiency• Three forms of market efficiency:– Weak Form Efficiency– Semi‐Strong Form Efficiency– Strong Form Efficiency276Market EfficiencyFINC 3610 ‐ YostMarket Efficiency• What do we know?–Market ReactionMarket Reaction– Reporting277Suggested Problems• Concepts Review and Critical Thinking Questions– Chapter 12: 1, 2, 3, 5, 6, 9, and
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