Have been informationally efficient stock markets?

In this paper we study the testing of the stock market efficiency in the last fifteen years, for that we review the papers of ScienceDirect database to characterize the results in percent. We find that 60 % of papers rejects stock market efficiency, 35 % presents evidence of efficiency, and the rema...

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Detalhes bibliográficos
Main Authors:	Duarte, Juan Benjamín Duarte, Pérez-Iñigo, Juan Manuel Mascareñas
Formato:	Online
Idioma:	spa
Publicado em:	Universidad Pedagógica y Tecnológica de Colombia 2014
Assuntos:	efficient market hypothesis financial markets. Hipótesis del mercado eficiente mercados financieros. (Efficient market hypothesis financial markets)
Acesso em linha:	https://revistas.uptc.edu.co/index.php/cenes/article/view/2906

Descrição
Resumo:	In this paper we study the testing of the stock market efficiency in the last fifteen years, for that we review the papers of ScienceDirect database to characterize the results in percent. We find that 60 % of papers rejects stock market efficiency, 35 % presents evidence of efficiency, and the remaining 5 % verifies a progressive improvement in efficiency due to economic reforms, faster information flow and the launch of new financial products