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Chapter Eight The Capital Markets and Market Efficiency

2. . . Summary. Market Efficiency refers to:Informational efficiency (the rapid adjustment of prices to new information)Operational efficiency (the extent to which orders get lost or improperly filled.)EMH - this is again review from at least Business 2039 and 3059Anomalies to EMH remain a puzzle:low P/E effect-Market overreactionlow-priced stocks-January effectsmall firm and neglected firm effects-day of the week effect.

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Chapter Eight The Capital Markets and Market Efficiency

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