Economic Efficiency and the Stock Exchange

Abstract

The belief that the London Stock Exchange is a near‐perfect market is common both among economists and the lay public. The main basis for this belief is that stock and share prices are very sensitive to the influence of supply and demand in the market. But undoubtedly the belief is also influenced by the very effective public relations efforts of the Stock Exchange Council and also the members of the exchange—the brokers and jobbers who operate the market mechanism.

Citation

McEvoy, C. (1976), "Economic Efficiency and the Stock Exchange", Managerial Finance, Vol. 2 No. 3, pp. 330-340. https://doi.org/10.1108/eb013390