International records / OpenAlex research

Efficient Market Hypothesis and Behavioural Finance: A Review of Literature

In this paper, we reviewed the efficient market hypothesis and the theory of behavioural finance with some past scientific research work relevant to these theories. Market efficiency refers to the speed and accuracy with which current market prices reflect investor expectations, such that mispriced securities are rare. This study, which is essentially a literature review, intends to explain the behaviour of stock prices with respect to information. It considers efficiency in relation to block transactions, new issues, stock splits and mutual fund performance with a consideration of empirical m…