Securities Regulation
Efficient Capital Markets: A Review of Theory and Empirical Work
Eugene F. Fama
- Year
- 1970
- Venue
- Journal of Finance
- Level
- Introductory
Summary
Reviews theoretical and empirical work on efficient capital markets and organizes the literature around weak-form, semi-strong-form, and strong-form tests. The article supplies the background for later legal debates over disclosure, reliance, price accuracy, and securities-fraud damages.
Citation
Eugene F. Fama. "Efficient Capital Markets: A Review of Theory and Empirical Work." Journal of Finance, 1970.
BibTeX
@article{Fama1970Efficient,
title = {Efficient Capital Markets: A Review of Theory and Empirical Work},
author = {Eugene F. Fama},
year = {1970},
journal = {Journal of Finance},
url = {https://www.jstor.org/stable/2325486}
}