skip to navigation skip to content
Search

How (in)efficient is the stock market?

How (in)efficient is the stock market?

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance In 2013, the Nobel committee split the economic prize to Eugene Fama – the pioneer of efficient market hypothesis (EMH) and Robert Shiller…

Read more

2018 ccfin inefficient stockmarket 883x432 1

Are analysts whose forecast revisions correlate less with prior stock price changes better information producers and monitors?

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Financial analysts are important information intermediaries in the capital markets because they engage in private information search, perform prospective analyses aimed at forecasting…

Read more

2018 ccfin forecastrevisions 883x432 1

Book-to-market ratio and inflexibility: the effect of unrecorded R&D capital

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance R&D investment has been playing an increasingly important role in the economy. However, accounting standard requires firms to immediately expense R&D as incurred.…

Read more

2017 ccfin booktomarketratio 883x432 1

Does anchoring impede investors’ interpretation of earnings news?

by Dr Yuan Li, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance In his best-selling book, Thinking, Fast and Slow, Nobel Memorial Prize in Economics laureate Daniel Kahneman describes anchoring as "one of the most…

Read more

2017 ccfin anchoring 883x432 1

Archives