28 6 月, 2018

留学 论文代写:金融资产

留学 论文代写:金融资产

考虑到英国目前的市场状况,金融资产的表现颇具疑问。可以说,这些资产的流程在接下来的几周中一直在上涨,主要是因为市场被认为是有效的。法玛通过他的反复调查表明,股市确实是有效的。 Famais认为市场总是领先一步,广泛投资将是有益的。从几种学术类型的研究中可以明显看出,英国股票市场被认为是一种效率较低的形式,而其他研究人员则认为它是一种半强效型。 Khan(1986)认为,半强效率可以归因于基于英国大宗交易者头寸的信息发布。

留学 论文代写:金融资产
Firth(1980)提供了进一步的证据,他们比较了投标报价公告后的股价(Harford and Alexander,2013)。他发现股价受到全面和即时调整到正确的水平。目前英国股市是半强效率的现在。早在EMH的概念存在之前,肯德尔(Kendall,1953)就检验了22个英国股票价格,这表明数据以一种流浪的方式表现出来。他还透露,这些观察遵循随机游走理论,这与Fama(1970)的肯EMH一致(Kendall,1953)。考虑到最近英国退欧,可以说新信息快速转移到资产市场,这就形成了高效的市场价格。因此,Fama’s(1970)的版本适合英国目前的市场状况(Worstall,2016)。

留学 论文代写:金融资产

Considering the current market conditions in the UK, the performance of the financial asset is quite questionable. It can be stated that the process of the assets had already been rising for the upcoming weeks mainly because the market is considered to be efficient. Fama through his repeated investigation suggested that indeed the stock markets are efficient. Famais of the opinion that the markets are always a step ahead and it would be beneficial to invest broadly. It is evident from several academic types of research that the UK Stock market is considered to be a weak form efficient while other researchers have suggested it to be a semi-strong-form efficient. Khan (1986) suggested that the semi-strong efficiency can be attributed to the release of the information based on the large trader position in the UK.

留学 论文代写:金融资产
Further evidence can be contributed by Firth (1980) who compared the share prices post bid offer announcement (Harford and Alexander, 2013). He found out that the share prices were subject to full and instantaneous adjustment to the correct levels. This present that the stock market in the UK is semi-strong form efficiency. Long before the notion of EMH existed, Kendall (1953) examined 22 UK stock prices which revealed that the data behaved in a wandering way. He also revealed that the observations follow random walk theory which coincides with the EMH of Fama (1970) (Kendall, 1953). Considering the recent Brexit, it can be stated that the new information gets transferred quickly to the asset market and this creates the aspect of efficient market price. Thus, the version of Fama’s (1970) is appropriate for the current market condition for the UK (Worstall, 2016).

 

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