有效市场假定和竞争 EMH and competition ■股票价格充分和现实反映了公开有效的信息 Stock prices fully and accurately reflect publicly available information ■只要信息是有效的,市场参与者就会分析它 Once information becomes available, market participants analyze it ■竞争使得价格反映了信息 Competition assures prices reflect information 12-712-7 股票价格充分和现实反映了公开有效的信息 Stock prices fully and accurately reflect publicly available information. 只要信息是有效的，市场参与者就会分析它 Once information becomes available, market participants analyze it. 竞争使得价格反映了信息 Competition assures prices reflect information. 有效市场假定和竞争 EMH and Competition