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Applied Economics Letters Volume 27, 2020 - Issue 18
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Research Article

The far reaching implications of Fama’s efficient markets hypothesis: non-predictability of media investments

Martin T. Bohla Department of Economics, Westfälische Wilhelms-University Münster, Münster, GermanyCorrespondence[email protected]
,
Thomas Ehrmannb Department of Business Administration, Westfälische Wilhelms-University Münster, Münster, Germany
&
Claudia Wellenreuthera Department of Economics, Westfälische Wilhelms-University Münster, Münster, Germany
Pages 1505-1508 | Published online: 14 Nov 2019

References

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  • Lo, A. W., and A. C. MacKinlay. 1988. “Stock Market Prices Do Not Follow Random Walk: Evidence from a Simple Specification Test.” The Review of Financial Studies 1: 41–66. doi:10.1093/rfs/1.1.41.
  • Moon, S., P. K. Bergey, and D. Iacobucci. 2010. “Dynamic Effects among Movie Ratings, Movie Revenues, and Viewer Satisfaction.” Journal of Marketing 74: 108–121. doi:10.1509/jmkg.74.1.108.
  • Neelamegham, R., and P. Chintagunta. 1999. “A Bayesian Model to Forecast New Product Performance in Domestic and International Markets.” Marketing Science 18: 115–136. doi:10.1287/mksc.18.2.115.
  • Shleifer, A. 2000. Inefficient Markets. An Introduction to Behavioral Finance. New York: Oxford University Press.
  • Shugan, S. M., and J. Swait. 2000. “Enabling Movie Design and Cumulative Box Office Prediction.” American Research Foundation Entertainment Conference Proceedings, Beverly Hills, CA.

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