Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)
Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)
14th Edition
ISBN: 9780133507690
Author: Lawrence J. Gitman, Chad J. Zutter
Publisher: PEARSON
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Chapter 7.3, Problem 7.13RQ
Summary Introduction

To explain: The efficient-market hypothesis (EMH) says about

(a) Securities prices,

(b) The reaction to new information,

(c) Investor opportunities to profit

 The behavioral finance challenge to this hypothesis

Introduction:

Efficient market is one where the market price is an unbiased approximate of the true value of the investment.

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Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)

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