American Finance Association Efficient Capital Markets: II Author(s): Eugene F. Fama Source: The Journal of Finance‚ Vol. 46‚ No. 5 (Dec.‚ 1991)‚ pp. 1575-1617 Published by: Blackwell Publishing for the American Finance Association Stable URL: http://www.jstor.org/stable/2328565 Accessed: 30/03/2010 21:19 Your use of the JSTOR archive indicates your acceptance of JSTOR ’s Terms and Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR ’s Terms and
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Classification of market Market Definition According to Duddy and Reizan “ Market are people with money to spend and the desire to spend it.” According to Chapman “ The term market refers not to a place but to commodities ‚ buyers and sellers who are in direct competition with one another.” Classification of market • On the basis of area 1. Local Markets: it is confined to locality mostly dealing perishable and semi perishable goods like fish‚ flowers‚ vegetables etc. 2. Regional Market: covers a wide
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Impacts of Financial liberalization and innovations in the financial globalizationcross-border listing and carry-trade Introduction Borrowers and investors in public and private sectors always seek for highly profitable opportunities beyond their home countries. After the Second World War‚ a tendency to international cooperation empowered. Financial liberalization‚ technology developments‚ and financial innovations have been the essential drivers for the financial globalization. This paper begins
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CHAPTER 11: THE EFFICIENT MARKET HYPOTHESIS PROBLEM SETS 1. The correlation coefficient between stock returns for two non-overlapping periods should be zero. If not‚ one could use returns from one period to predict returns in later periods and make abnormal profits. 2. No. Microsoft’s continuing profitability does not imply that stock market investors who purchased Microsoft shares after its success was already evident would have earned an exceptionally high return on their investments
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12. Ratios Inputs RATIOS Items July 1‚ 2005 July 1‚ 2006 June 30‚ 2007 June 30‚ 2008 June 30‚ 2009 June 30‚ 2010 19.1% 3.2% 20.3% 2.6% 17.4% 20.3% 2.9% 18.7% 20.1% 2.9% 19.4% 20.1% 2.9% 18.6% 20.1% 2.8% 16.9% 9.9% 2.2% 8.5% 25.1% 48.5% 10.8% 3.3% 12.3% 36.0% 66.0% 11.3% 3.2% 12.1% 35.4% 62.1% 10.4% 3.7% 13.3% 39.3% 71.5% 9.4% 4.0% 13.4% 38.4% 79.4% 3.78 7.34 13.79 1.23 16.92 13.69 14.11 22.37 3.79
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Sample Market Analysis Market Analysis Customers Family Farmers Choice has developed a database of present customer who buy on a regular basis and customers who have bought only occasionally as the opportunity presents itself‚ such as at farmers markets. Customer demographics show the current customers are in an income range of $45‚000 or more‚ two income families‚ professional occupations‚ concerned about the environment and located primarily in urban areas. Research also shows these customers
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Tapping Rural Market “Sustainable strategies of corporate” Sandeep Porwal (PGDM Student‚ CDSM‚ Indore) Introduction Rural market is getting an importance because of the saturation of the urban market. As due to the competition in the urban market‚ the market is more or so saturated as most of the capacity of the purchasers have been targeted by the marketers. So the marketers are looking for
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Fevikwik and the Goa market Background Pidilite Industries Limited is the largest adhesive manufacturer in India. It also has world wide presence in adhesives‚ art material and industrial chemicals. Pidilite’s most famous brand is the Fevicol range of adhesives. Its other famous brands are Dr. Fixit‚ Cyclo‚ Ranipal‚ Hobby Ideas‚ M-seal and Acron. Pidilite’s corporate office is located in Andheri (East)‚ Mumbai. It also makes Fevikwik -India’s first ever One Drop Instant Adhesive. Fevikwik is India’s
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4) Why are financial markets important to the health of the economy? A financial market is a market where people and organization can trade financial securities and commodities at prices according to the supply and demand. Example of securities are stocks and bonds‚ and commodities include properties or valuable assets. A market holds interested buyers and sellers‚ including households‚ firms‚ and government agencies‚ in one place. Financial markets helps the raising of capital‚ the transfer
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Industrial Market Vs Consumer Market Market Structure Understanding Industrial markets Industrial Market Geographically conc. Fewer buyers (relatively) Big buyers ( small number of large buyers) Consumer Markets Geographically dispersed Mass markets Free Market (large number of buyers) 1 Industrial Market Vs Consumer Market Market Structure - Example Understanding Industrial markets Industrial Market ( Rutile for Paints) Major ten cities. Fewer buyers (example 500) Oligopolistic buyers with
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