| 单词 | efficient markets hypothesis |
| 释义 | efficient markets hypothesis efficient markets hypothesis A central theory of modern finance holding that transactors in financial markets cannot make abnormal returns on the basis of exploiting information, since market prices incorporate all available information. The US economist Eugene Fama has defined three categories of market efficiency: weak-form efficiency, in which only historical information is incorporated into the market prices; semi-strong-form efficiency, in which all publicly available information, past or present, is incorporated; and strong-form efficiency, in which all public or private information is incorporated. See alsoactive management; anomaly. |
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