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분야
hwpExordium
Body
1. An example fitting to the EMH
2. Anomalies
① Low PER, PBR Effect
② First Public Offering Stock
3. Systemical Inefficiency Examples
① Unfair Transaction
② Abnormal Preferred Stock
4. Professional Data Quotation
Conclusion
It's always been being a debate on the answer for 'Is the stock market efficient?'. Some say yes, and others say no. However, the answer till the beginning of 1990s was more weighed on the 'yes'. And the supporting theory which played a core role for forming the trend was 'Efficient Market Hypothesis; EMH'. The theory asserts that prices of the assets always reflect all the available information, with regard to relation to the value of the asset. Thus, the efficiency of the stock market can be defined as the status which is reflecting all the available sufficiently. However, since a few times of financial crisis, researchers have risen the doubt about Efficient Market Hypothesis and this still remains as an unsolved mystery.
