لزوم آگاهی حسابداران از EMH و CMR

نویسنده


عنوان مقاله [English]

Efficient Market Hypothesis and Capital Market Research

چکیده [English]

The purpose of this article is to demonstrate that EMH and
CMR are the integral parts of the real world of accounting. EMH
and CMR have been a part of the accounting environment since
the 1960s. EMH is an aggregate concept describing the
relationship between security prices and information.
The emprical evidence implies that the stock market is
reasonably efficient. In particular, the evidence shows that the
stock prices are more influenced by the disclosure of real
economic events, than by cosmetic accounting effects. However,
only a few number of practicing accountants are aware of EMH
and even fewer number underestand the Efficient Market
Hypothesis, There is reason for concern. What can be done to
educate the managers and the accountants about the
ramifications of the hypothesis? This article is a step towards the
.addressing that question