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The Efficiency of CAC Stock Price Forecasts : a Survey Based Perspective

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  • Patricia Fraser
  • Ronald MacDonald

Abstract

[fre] The Efficiency of CAC Stock. Price Forecasts. A Survey Based Perspective. . Dans cet article, nous nous proposons d'analyser les problèmes relatifs à l'anticipation des cours boursiers en utilisant les réponses à une enquête qualitative sur l'indice général CAC. Nous examinons la rationalité des anticipations et le type de mécanisme qui caractérise le mieux les anticipations des agents. Nous trouvons, entre autres, que les anticipations sont non rationnelles et sont moins précises que des anticipations purement aléatoires.

Suggested Citation

  • Patricia Fraser & Ronald MacDonald, 1993. "The Efficiency of CAC Stock Price Forecasts : a Survey Based Perspective," Revue Économique, Programme National Persée, vol. 44(5), pages 991-1000.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1993_num_44_5_409492
    DOI: 10.3406/reco.1993.409492
    Note: DOI:10.3406/reco.1993.409492
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    References listed on IDEAS

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    1. Andrew W. Lo, A. Craig MacKinlay, 1988. "Stock Market Prices do not Follow Random Walks: Evidence from a Simple Specification Test," The Review of Financial Studies, Society for Financial Studies, vol. 1(1), pages 41-66.
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    6. Poterba, James M. & Summers, Lawrence H., 1988. "Mean reversion in stock prices : Evidence and Implications," Journal of Financial Economics, Elsevier, vol. 22(1), pages 27-59, October.
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    2. Ibrahim Filiz & Jan René Judek & Marco Lorenz & Markus Spiwoks, 2021. "Sticky Stock Market Analysts," JRFM, MDPI, vol. 14(12), pages 1-27, December.

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