International Journal of Research in Finance and Management
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E-ISSN: 2617-5762|P-ISSN: 2617-5754

International Journal of Research in Finance and Management

2019, Vol. 2, Issue 1
Q-statistic and Bear market phenomenon of the Indian stock market

Dr. Neelam Gupta

A decade after Samuelson's (1965) landmark paper, many others extended his framework to allow for risk-averse investors, yielding a neoclassical" version of the EMH where price changes, properly weighted by aggregate marginal utilities, must be unforecastable (Le Roy, 1973; Rubinstein, 1976; and Lucas, 1978). In markets where, according to Lucas (1978), all investors have rational expectations", prices do fully reflect all the available information and marginal-utility-weighted prices follow martingales. The EMH has been extended in many other directions, including the incorporation of non-traded assets such as human capital, state-dependent preferences, heterogeneous investors, asymmetric information, and transaction costs. But the general thrust is the same: individual investors form expectations rationally, markets aggregate information efficiently, and equilibrium prices incorporate all the available information.
Pages : 83-86 | 32 Views | 21 Downloads
How to cite this article:
Dr. Neelam Gupta. Q-statistic and Bear market phenomenon of the Indian stock market. Int J Res Finance Manage 2019;2(1):83-86.
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International Journal of Research in Finance and Management