论文辅导

论文辅导

Fama对于有效假设市场的概念并不会导致投资者有能力准确地识别未来的市场价格。它提出的关键观点是,目前市场上的价格是客观性质的价格,因为它涉及到可获得的信息。然后,股票市场的价格以一种随机的方式表现,因为投资公司一直在进行股票市场分析。他们也不断地在他们的投资决策中反映新的数据。这里的意义在于,法玛为这一假设做出的声明,以及在此基础上进一步发展的方式。这一假设进一步导致了对股票市场效率不是恒定不变的事实的调查,但它一直在变化(Fama, 1965)。这是因为,不仅股票市场的流动性存在差异,而且投资环境也发生了一些变化。这可能会导致新信息的迅速复杂化。本文提供的这些假设和证据有助于形成较新的理论和模型。

论文辅导

论文对目前金融文献的影响。法玛被认为是最重要的研究人员之一,它展示了理论的正式审查,以及随机漫步理论和市场效率假说的证据。由于《法玛报》的篇幅很长,所以无法从目前的文献发展的角度来解释整篇论文。因此,为了展示法玛文章对当代文学的贡献,将会有三到四篇关于股票市场理论的论文。

论文辅导

The concept of Fama for the efficient hypothesis market does not result in anticipating that investors have the ability of identifying faultlessly, the future market price. The key claim it made is that the present price in the market is a price of objective nature as it involves ever information ratemaking available. Then, the prices of stock market behave in a random manner as investment makers consistently undergo stock market analysis. They also continuously reflected on new data within their decisions for investment. The significance here lies in the claims that Fama made for this hypothesis and the way in which further development has occurred over it. The hypothesis further led towards investigation over the fact that the stock market efficiency is not something of a constant nature but it keeps changing (Fama, 1965). This is because not only there is difference in the liquidity of stock markets, but also there are some changes in the environment of investment. This can result in speedily complicating the new information for rate making. Such assumptions and evidences provided in the article helped in shaping newer theories and models.

论文辅导

Impact of paper to the present financial literature: Fama is regarded as one of the most essential researchers that showcased the formal review of the theory as well as the evidence for both the random walk theory along with the market efficiency hypothesis. As the paper of the Fama is lengthy, the entire paper cannot be explained in terms of the current literature development. Hence, three to four recent papers on the topic of stock market theories will be undertaken in order to show the contribution of Fama’s article on the current literature.