Brown, Keith C.; Harlow, W. V.; Tinic, Seba M. - In: Journal of Applied Corporate Finance 2 (1989) 3, pp. 45-58
Much academic research in finance in the past quarter century has been devoted to examining the proposition that corporate securities are priced by "rational" investors in an "efficient market." Stated most simply, the proposition says that the intensive pursuit of large returns by stock market...