该研究强调，最好的知情投资者只能对真实的组织共享价值进行评估。这意味着，即使公众和非公开信息是由投资者获得的，组织所面临的未来挑战，以及董事会故意持有的信息，都可能导致不准确的股价(甲和Cheffins, 2016)。因此，股票市场的波动受到投资者最佳假设的影响，这表明市场对于组织或某一特定行业未来前景的共识可能是不准确的。因此，股票价格被认为是对商业价值假设的最佳选择，因为它包含了公共信息。研究人员声称，上述发现是由于投资者的行为，包括对公司业绩评估的强烈财务动机，将对股价(甲和Cheffins, 2016)进行控制。
The study emphasis that the best informed investors can merely make the estimations of the organizational share values that are real. This implication is made with the consideration that even if the public and non-public information is obtained by the investor, the future challenges faced by the organization and purposely held information by the board of directors can result in inaccurate share prices (Armour and Cheffins, 2016). Hence, the stock market fluctuations are influenced by the best assumptions of the investors, this indicates to the fact that the market consensus about the future prospects of the organization or a particular industry can be inaccurate possibly. Hence, the share price is considered as the best option available for the assumptions about the business value due to the public information it incorporates. The above findings are claimed by the researchers to take place due to the actions of the investors comprising of strong financial motivations for the corporation performance evaluation will be performed to the control of the share price (Armour and Cheffins, 2016).
The manner in which the price accuracy and information efficiency is equated is based on the two distinct factors. These factors are suggested by the researchers to the extent and nature of the information availability and manner in which it is obtained by the investors. Moreover, the study indicated that the four mechanism of the market implies by the efficient capital market hypothesis is that it functions in the declining efficiency. It is suggested by the researchers that the prices of share should function in a consistent manner within the semi-strong efficiency if the informed trading takes place with consideration to the information sensitive to price (Armour and Cheffins, 2016). However, the outcome will differ if the trading is based on uninformed manner.