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| 005 | 20250930133635.0 | ||
| 008 | 120703s2011 mau 000 0 eng d | ||
| 020 |
_a9781601984685 (pbk.) _cRM220.88 |
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| 039 | 9 |
_a201207271545 _bariff _c201207261521 _dmaslia _y07-03-2012 _zrasyilla |
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| 040 | _aUKM | ||
| 090 | _aHG4636.A538 | ||
| 090 |
_aHG4636 _b.A538 |
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| 100 | 1 | _aAng, Andrew. | |
| 245 | 1 | 4 |
_aThe efficient market theory and evidence : _bimplications for active investment management / _cAndrew Ang, William N. Geotzmann, and Stephen M. Schaefer |
| 260 |
_aHanover, MA : _bNow Publishers Inc., _c2011. |
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| 300 |
_aix, 89 p. ; _c23cm. |
||
| 490 | 1 |
_aFoundations and trends in finance, _x1567-2409 ; _vv. 5, issue 3. |
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| 504 | _aReferences : p. 73-89. | ||
| 520 | _aThe Efficient Market Hypothesis (EMH) asserts that, at all times, the price of a security reflects all available information about its fundamental value. The implication of the EMH for investors is that, to the extent that speculative trading is costly, speculation must be a loser's game. Hence, under the EMH, a passive strategy is bound eventually to beat a strategy that uses active management, where active management is characterized as trading that seeks to exploit mispriced assets relative to a risk-adjusted benchmark. The EMH has been refined over the past several decades to reflect the realism of the marketplace, including costly information, transactions costs, financing, agency costs, and other real-world frictions. The most recent expressions of the EMH thus allow a role for arbitrageurs in the market who may profit from their comparative advantages. These advantages may include specialized knowledge, lower trading costs, low management fees or agency costs, and a financing structure that allows the arbitrageur to undertake trades with long verification periods. The actions of these arbitrageurs cause liquid securities markets to be generally fairly efficient with respect to information, despite some notable anomalies. | ||
| 650 | 0 | _aEfficient market theory. | |
| 650 | 0 |
_aInvestments. _960067 |
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| 700 | 1 | _aGoetzmann, William N. | |
| 700 | 1 | _aSchaefer, Stephen M. | |
| 830 | 0 |
_aFoundations and trends in finance, _x1567-2409 ; _vv. 5, issue 3. |
|
| 907 |
_a.b15419939 _b2019-11-12 _c2019-11-12 |
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| 942 |
_c01 _n0 _kHG4636.A538 |
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| 914 | _avtls003507039 | ||
| 990 | _amms | ||
| 991 | _aFakulti Ekonomi dan Pengurusan | ||
| 998 |
_at _b2012-03-07 _cm _da _feng _gmau _y0 _z.b15419939 |
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| 999 |
_c525414 _d525414 |
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