목차
Ⅰ. Introduction
1. Definition of the EMH
2. Types of the EMH
Ⅱ. Inefficient market evidence
1. Weak-form EMH objection
2. Semi-strong form EMH objection
3. Strong form EMH objection
Ⅲ. Conclusion
1. Limitation of the EMH
2. Market is inefficient
1. Definition of the EMH
2. Types of the EMH
Ⅱ. Inefficient market evidence
1. Weak-form EMH objection
2. Semi-strong form EMH objection
3. Strong form EMH objection
Ⅲ. Conclusion
1. Limitation of the EMH
2. Market is inefficient
본문내용
Ⅰ. Introduction
1. Definition of the EMH
The Efficient Market Hypothesis is assumed that because stock prices have already reflected on available information, the investors can’t attain the profits. In other words, the stock prices are moved by new information and because new information is unpredictable, so the stock prices should random and unpredictable.
2. Types of the EMH
The EMH included three types to support to this hypothesis. First, the weak-form EMH which is that the stock prices are reflected on the information that the data of the market from the past. In other words, if the data from the past offered to a little bit reliable the signals to future performance, the data is assumed that all of the investors know the way to use the signals a long time ago, this theory insist that the investors can’t attain the profits.
1. Definition of the EMH
The Efficient Market Hypothesis is assumed that because stock prices have already reflected on available information, the investors can’t attain the profits. In other words, the stock prices are moved by new information and because new information is unpredictable, so the stock prices should random and unpredictable.
2. Types of the EMH
The EMH included three types to support to this hypothesis. First, the weak-form EMH which is that the stock prices are reflected on the information that the data of the market from the past. In other words, if the data from the past offered to a little bit reliable the signals to future performance, the data is assumed that all of the investors know the way to use the signals a long time ago, this theory insist that the investors can’t attain the profits.