Anomalies and Market Efficiency
SSRN Electronic JournalPublished 1 January 2002Open access
G. William Schwert
Citations470
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Abstract
Anomalies are empirical results that seem to be inconsistent with maintained theories of asset-pricing behavior. They indicate either market inefficiency (profit opportunities) or inadequacies in the underlying asset-pricing model.
Keywords
Economics, Econometrics and Finance
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