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作者 Eccles, Audley Delroy
書名 Stock selection methods: Fundamental analysis departure in the United States stock market compared and contrasted
說明 355 p
附註 Source: Dissertation Abstracts International, Volume: 64-12, Section: A, page: 4564
Adviser: David Hemley
Thesis (D.B.A.)--Nova Southeastern University, 2004
The semi-strong form of the Efficient Market Hypothesis (EMH) tells investors that it is not possible to outperform the market. It does this because it claims that the stock price of publicly traded companies has already incorporated all information that is publicly available. If this is the case, and investors are risk averse, there should not be any combinations of stocks that should yield a higher return than the market portfolio. Accordingly, the market portfolio epitomizes the efficiency of the market, and attests to the efficacy of the EMH
Extracted from Compustat's database was a sample of 144 actively traded companies, on all the exchanges in the United States. Four groups of portfolios were created from this data and eight fundamental analysis techniques were used to analyze it, to test the validity of the EMH theory's claim
Using the t-test of independent means the results of the study suggest that the EMH was statistically reliable
School code: 1191
DDC
Host Item Dissertation Abstracts International 64-12A
主題 Economics, Finance
Business Administration, Management
0508
0454
Alt Author Nova Southeastern University
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