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For equity markets, the digital age means that information transfer and its impact on price are more important than ever. In this video, SÖHNKE M. BARTRAM explains how one goes about measuring the informational efficiency of international equity markets. Analyzing over 25,000 individual stocks from more than 36 countries, Bartram finds that the informational efficiency of global equity markets leaves much to be desired. Providing an important jumping-off point in the new nondiscretionary measure of fair value that he has developed, Bartram calls for further research to determine the most important drivers of equity returns in contemporary markets.
DOI:
https://doi.org/10.21036/LTPUB10723
Tags:
Equity Markets
Informational Efficiency

Researcher

Söhnke M. Bartram has been a Professor of Economics at the University of Warwick since 2011. Having held visiting professorships at London Business School, NYU Stern School of Business and at Paris Dauphine University, he previously worked in quantitative equities research at State Street Global Advisors where he was also head of the London Advanced Research Center. Bartram’s main research interests include international financial markets and financial risk management. An editorial board member for Financial Review and the Journal of Banking and Finance, in 2017, Bartram (with Mark Grinblatt, UCLA) received the AAM-CAMRI-CFA Institute Prize in Asset Management.

Institution

Original publication

Agnostic Fundamental Analysis Works

Bartram Söhnke M. and Grinblatt Mark
Journal of Financial Economics
Published in 2018

Global Market Inefficiencies

Bartram Söhnke M. and Grinblatt Mark
SSRN Papers
Published in 2017

Citation

Söhnke M. Bartram, Latest Thinking, How Can We Determine the Informational Efficiency of Global Equity Markets?, https://doi.org/10.21036/LTPUB10723, 2018

Credits:

© Söhnke M. Bartram and Latest Thinking
This work is licensed under CC-BY 4.0

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