Title: An Investigation on Fractal Market in Capital Market
Abstract: EMH is one of the important theories in current capital market. EMH supposes that the stocks' prices in the securities market can reflect all relevant information timely, precisely and completely. With this formulation, many scholars have made wide experimental investigations on the theory. However, the results are not satisfactory. Considering the highly complex property of capital market, a new way- fractal market analysis method has appeared, which stemmed from the research on natural scinece. This paper discusses the fractal market analysis and how it can reflect the capital market. The paper proposes that the market is fractal and R/S analysis method can be used to investigate the market. EMH is only a special phenomenon.
Publication Year: 2002
Publication Date: 2002-01-01
Language: en
Type: article
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