The Analysis of the Capital Market Efficiency
AbstractThe efficiency of the capital market aims the relation existing between the mechanism of the market prices forming and the existing information on the market at the respective moment. According to the theory of the years '60, a market may be considered as efficient if the prices of the transacted financial assets on the market incorporate entirely the available information, either public or private. The efficiency of the capital market is a sine qua non condition for the efficient allocation of the capitals within the economy and represents a fundamental hypothesis of the classical methods of the evaluation of the financial assets (Markowitz, CAPM etc).
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Bibliographic InfoArticle provided by Romanian Statistical Review in its journal Romanian Statistical Review Supplement.
Volume (Year): 60 (2012)
Issue (Month): 4 (November)
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More information through EDIRC
capital market; efficiency; portofolio; Treynor-Black model; placement;
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03.
- William F. Sharpe, 1964. "Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk," Journal of Finance, American Finance Association, vol. 19(3), pages 425-442, 09.
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