Bhartiya Bhasha, Siksha, Sahitya evam Shodh

  ISSN 2321 - 9726 (Online)   New DOI : 10.32804/BBSSES

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IS EFFICIENT MARKET HYPOTHESIS LOSING ITS SHEEN

    1 Author(s):  DR. RAJIV CHOPRA

Vol -  4, Issue- 4 ,         Page(s) : 189 - 191  (2013 ) DOI : https://doi.org/10.32804/BBSSES

Abstract

Introduction Any discussion about the risk return framework will be incomplete without having a chapter on Efficient market hypothesis (EMH). As per EMH stocks and stock markets are extremely efficient in incorporating any material information without much delay. The implications of EMH is that its impossible to make excess return without taking commensurate risks and neither technical analysis nor fundamental analysis has any value. Nevertheless, certain strategies such as value effect and size effect have been able to generate mean excess returns. Studies carried out on Indian stock markets substantiate the notion of inefficiency of financial markets.

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  4. Tripathi, Vanita. and Sanjay Sehgal. 2007, "Value effect in Indian stock market". ICFAI Journal of Applied Finance,13. pp 23-36.

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