Valoración de activos, eficiencia de mercados financieros y casos relacionados con la racionalidad e irracionalidad de los agentes. : una revisión bibliográfica

Joan Sebastián  Rojas Rincón; Sara Liliana  Martínez Cuervo; Carlos Andrés  Avellaneda Sánchez; Karen Nayibe Serrano Ortiz

doi:10.22490/ECACEN.5436

No. 2 (2021)

Published

2021-11-02

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Rojas Rincón, J. S. ., Martínez Cuervo, S. L. ., Avellaneda Sánchez, C. A., & Serrano Ortiz, K. N. . (2021). Valuation of assets, efficiency of financial markets and cases related to the rationality and irrationality of the agents: a bibliographic review. Documentos De Trabajo ECACEN, 2. https://doi.org/10.22490/ECACEN.5436

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Valuation of assets, efficiency of financial markets and cases related to the rationality and irrationality of the agents

DOI: https://doi.org/10.22490/ECACEN.5436

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Artículos

Joan Sebastián Rojas Rincón Universidad Nacional Abierta y a Distancia

Sara Liliana Martínez Cuervo Universidad Nacional Abierta y a Distancia

Carlos Andrés Avellaneda Sánchez Universidad Nacional Abierta y a Distancia

Karen Nayibe Serrano Ortiz Universidad Nacional Abierta y a Distancia

This work aims to explore the theory of efficient financial markets, under an analysis framework based on the assumption of rationality of the agents. For this purpose, it starts from an analysis of the theoretical considerations and the practical implications in the operation of the stock market analysis and investment decision making. Then, based on a documentary review, a discussion is opened around the problematizing question: Are financial markets efficient? The starting point is the approach to the efficiency levels proposed by Fama (1970) in order, based on these, to free the discussion around the empirical evidence of some studies or cases given in practice, with which serious questions are raised. to this theoretical approach. In the end, some considerations are raised from the perspective of behavioral finance, where feelings, emotions and collective behavior patterns can explain certain anomalies in the markets.

Finance, Financial Markets, Financial Assets Valuation, Fundamental Analysis, Market Analysis, Behavioral Finance

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