研究人员认为，对股价效率和收购报价的考虑，与股价有关的效率方面，在不同的角度考虑和理解是至关重要的。通过有效的资本市场假说(装甲和Cheffins, 2016)，可以理解股价及其效率。弱者,半强势和强形式的假设是声称考虑股票市场运作在半强势效率方面如果股票的价格展示的信息公开和市场弱式效率可以承认如果他价格展示所有信息出现在过去的股票价格。研究人员认为，如果市场达到了这些形式的效率标准，那么对之前价格波动的评价将无法预测未来价格走势。因此，假设“强势市场的主张”展示了公共和非公众的所有信息(装甲和Cheffins, 2016)的价格。
本研究的文献表明，即使在股票市场中存在信息效率的情况下，投资者也需要继续进行，以确保对股票价格效率的唯一依赖不应该是这种情况。这是在投资者经常得出的结论，即有效价格将被认为是正确的，并且是对未来的净案例流动的高可靠性的指标，并高估了潜在的证券价值(Armour and Cheffins, 2016)。其中一名研究人员认为，资本市场是无摩擦的，而价格证券是对股票固有价值的最有效估值。这一论断暗示，信息有效的股票价格并没有显示出投资者所建议的进一步调查的根本效率。
It is implied by the researchers that the consideration of the share prices efficiency and the bids of takeover, the aspect of efficiency related to the share price are essential to consider and understand in varied perspectives. The share prices and its efficiency can be understood through the efficient capital market hypothesis (Armour and Cheffins, 2016). The weak, semi-strong and the strong form of hypothesis are taken into account for claiming that the stock market operates with efficiency within the semi-strong aspect if the prices of share showcases the information that is publicly available and the market efficiency in the weak form can be recognized if he prices showcase all information present in the past prices of share. It is argued by the researchers that if market meets the efficiency standard of these forms, the evaluation of the prior fluctuations in the price will not enable the forecast of the future movements of the price. Therefore, the hypothesis’ claim of strong market to showcase the prices of share with all information both public and non-public (Armour and Cheffins, 2016).
The literature of this study implies that the investors are required to proceed with causes even if the informational efficiency is present in the stock market to ensure that sole reliance on the share price efficiency should not be the case. This is stated as the investors often conclude that efficient prices will deem to be correct and are the indicators of high reliability for the future flows of net case and overestimates the underlying securities value (Armour and Cheffins, 2016). One of the researchers argues that the capital markets are frictionless and price securities are at the most effective estimate of the value that is intrinsic to the stock. This assertion implies that the informational efficient stock prices do not suggest fundamental efficiency due to which further investigation is suggested on the part of the investors.