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The far reaching implications of Fama’s efficient markets hypothesis: non-predictability of media investments

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  • Martin T. Bohl
  • Thomas Ehrmann
  • Claudia Wellenreuther

Abstract

In this paper we show, that approaches used to forecast the success of media investments can be challenged on the basis of the efficient markets hypothesis. Moreover, we present new empirical evidence which supports our argumentation in favour of the non-predictability of the success of media investments.

Suggested Citation

  • Martin T. Bohl & Thomas Ehrmann & Claudia Wellenreuther, 2020. "The far reaching implications of Fama’s efficient markets hypothesis: non-predictability of media investments," Applied Economics Letters, Taylor & Francis Journals, vol. 27(18), pages 1505-1508, October.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:18:p:1505-1508
    DOI: 10.1080/13504851.2019.1693014
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