Economics, Econometrics and Finance
4 years ago

Share price efficiency undermined by behavioural and entrepreneurial theories, new explanation needed.

Singapore journal of legal studies
The paradox of securities markets efficiency : where to next?
Razeen Sappideen

Paper Summary

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The article discusses how securities markets may not be as efficient as previously thought due to factors like human behavior and guesswork influencing share prices. The traditional idea that markets always reflect all available information accurately is being challenged. The emergence of the shareholder value concept has also played a role in this shift. Despite being competitive, securities markets may not always be as efficient as believed, leading to the need for a new theory to explain this paradox.