A Brief History of Market Efficiency and Stock Market Anomalies

Posted: 25 Jun 1998

See all articles by Elroy Dimson

Elroy Dimson

University of Cambridge - Judge Business School; London Business School; European Corporate Governance Institute (ECGI)

Massoud Mussavian

ISAM Funds; ISAM

Abstract

Every finance professional employs the concept of market efficiency. The theory, evidence and counterevidence focus on a couple of dozen highly influential articles published during the twentieth century. We summarise the origins of and interlinkages between these contributions to the history of finance.

JEL Classification: B00, G14

Suggested Citation

Dimson, Elroy and Mussavian, Massoud, A Brief History of Market Efficiency and Stock Market Anomalies. European Financial Management, Vol 4, No 1, March 1998, Available at SSRN: https://ssrn.com/abstract=84828

Elroy Dimson (Contact Author)

University of Cambridge - Judge Business School ( email )

Trumpington Street
Cambridge, CB2 1AG
United Kingdom
+44 700 607 7390 (Fax)

London Business School ( email )

Sussex Place
Regent's Park
London, NW1 4SA
United Kingdom
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44 700 607 7390 (Fax)

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

Massoud Mussavian

ISAM Funds ( email )

55 Baker Street
London, W1U 8EW
United Kingdom

ISAM ( email )

5100 Town Center Circle
Suite 430
Boca Raton, FL 33686
United States

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