Examination of Efficient Market Hypothesis in Indian Stock Markets and behavioural patterns of Institutional and Individual Investors in India
Jain, Shruti (2006) Examination of Efficient Market Hypothesis in Indian Stock Markets and behavioural patterns of Institutional and Individual Investors in India. [Dissertation (University of Nottingham only)] (Unpublished)
Over 5 decades a lot of body of evidences have claimed that stock markets are efficient and it is not possible to beat the market consistently. In recent years, however, financial economists have increasingly questioned the efficient market theory. Market efficiency has an influence on the investment strategy of an investor If market is efficient, trying to find undervalued and overvalued stocks and trying to beating the market will be a waste. In an efficient market there will be no undervalued securities offering higher than deserved expected returns, given their risk. On the other hand if markets are not efficient, excess returns can be made by correctly picking the winners.
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