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Apuntes del Cenes
versão impressa ISSN 0120-3053
Resumo
BENJAMIN DUARTE DUARTE, Juan e MASCARENAS PEREZ-INIGO, Juan Manuel. Have been informationally efficient stock markets?. Apuntes del Cenes [online]. 2014, vol.33, n.57, pp.117-146. ISSN 0120-3053.
In this paper we study the testing of the stock market efficiency in the last fifteen years, for that we review the papers of ScienceDirect database to characterize the results in percent. We find that 60 % of papers rejects stock market efficiency, 35 % presents evidence of efficiency, and the remaining 5 % verifies a progressive improvement in efficiency due to economic reforms, faster information flow and the launch of new financial products
Palavras-chave : efficient market hypothesis; financial markets.