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http://ssrn.com/abstract=1409206
 
 

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The Efficient Capital Market Hypothesis, Chaos Theory, and the Insider Filing Requirements of the Securities and Exchange Act of 1934: The Predictive Power of Form 4 Filings


Patrick J. Glen


Department of Justice, Civil Division

May 23, 2009

Fordham Journal of Corporate and Financial Law, Vol. 11, No. 1, 2005

Abstract:     
This article is primarily an examination of whether the filing of form 4's under the '34 Act has a particular effect on the movement of securities prices. The ultimate results are then analyzed under traditional market theories, which are introduced earlier in the paper. The main question presented is the worth of information for traders. If chaos theory is correct in the weight it gives to information, then the filing requirements become very important, as does any movement that could be associated with those requirements. The paper is an initial step in an area that has not been addressed to a large extent, and could serve as the departure point for more rigorous empirical study of the questions presented.

Number of Pages in PDF File: 30

Keywords: corporate law, securities law, chaos theory, efficient capital market hypothesis

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Date posted: May 24, 2009  

Suggested Citation

Glen, Patrick J., The Efficient Capital Market Hypothesis, Chaos Theory, and the Insider Filing Requirements of the Securities and Exchange Act of 1934: The Predictive Power of Form 4 Filings (May 23, 2009). Fordham Journal of Corporate and Financial Law, Vol. 11, No. 1, 2005. Available at SSRN: http://ssrn.com/abstract=1409206

Contact Information

Patrick James Glen (Contact Author)
Department of Justice, Civil Division ( email )
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001
United States
202-305-7232 (Phone)
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