Market Efficiency after the Financial Crisis: It's Still a Matter of Information Costs

• Main Authors: Gilson, Ronald J., Kraakman, Reinier
• Format: Text
• Language: unknown
• Published: Scholarship Archive 2014
• Subjects: efficient capital market hypothesis; financial crisis; subprime crisis; financial regulation; Virginia Law Review; Banking and Finance Law; Law; Law and Economics; Sturm; Iceland
• Online Access: https://scholarship.law.columbia.edu/faculty_scholarship/894; https://scholarship.law.columbia.edu/context/faculty_scholarship/article/1941/viewcontent/Gilson___Market_Efficiency_after_the_Financial_Crisis.pdf

Contrary to the views of many commentators, the Efficient Capital Market Hypothesis ("ECMH"), as originally framed in financial economics, was not "disproven" by the Subprime Crisis of 2007-2008, nor has it been shown to be irrelevant to the project of regulatory reform of financ...