efficiency tests. Reflections on the measurement of intrinsic value provide insight into the interpretation of existing evidence … and suggestions for generating new evidence on market efficiency. This review essay on the state of knowledge about market … efficiency focuses on "A Reappraisal of the Efficiency of Financial Markets", analyzing the research areas from this perspective …

, Germany, Japan, and the U.K. All of the anomalies are consistently significant across these five countries, whose developed …