第七章 效率市场精心整理专业资料，请放心下载.pptVIP

第七章 效率市场;主要内容;;1. Why are not stock prices predictable?;;;2. 股票价格的随机游走(random walk);;;;3. 有效资本市场的描述;;有效和非有效市场中价格对新信息的反应;;;;;;;;;;;;;4. How can we tell if markets are inefficient?;5. Why would we expect markets to be efficient?;;Random Walks and Efficient Markets;6. Evidence for market efficiency;;;7. Evidence against market efficiency;;;8. The market anomalies;;;;;Small vs. Large stocks;;;;;;The January Effect;;;Overreaction studies;（1）Losers and Winners---- Long term reversal ;;;;（2）Value and Growth;;;;;;;;;;Underreaction studies;（1）Momentum;;（2）Earnings Announcements;;;Other anomalies;;;;Da