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- Title
Efficient Capital Markets: II.
- Authors
Fama, Eugene F.
- Abstract
Sequels are rarely as good as the originals, so I approach this review of the market efficiency literature with trepidation. The task is thornier than it was 20 years ago, when work on efficiency was rather new. The literature is now so large that a full review is impossible, and is not attempted here. Instead, I discuss the work that I find most interesting, and I offer my views on what we have learned from the research on market efficiency.
- Subjects
CAPITAL market; EFFICIENT market theory; MARKET equilibrium; RATE of return; PRICES; INVESTMENT analysis; INDUSTRIAL organization (Economic theory); INDUSTRIAL efficiency; ECONOMIC equilibrium; BUSINESS literature
- Publication
Journal of Finance (Wiley-Blackwell), 1991, Vol 46, Issue 5, p1575
- ISSN
0022-1082
- Publication type
Article
- DOI
10.1111/j.1540-6261.1991.tb04636.x