We thank participants at the 2008 Rand/Claremont McKenna College conference on “The Future of Securities Fraud Litigation” for their comments and suggestions. We also benefited from comments of an anonymous referee and seminar participants at Chapman University, University of Hawaii, University of California Riverside, the Searle Research Symposium on the Economics and Law of the Entrepreneur at Northwestern University Law School, University of Tampa, Université Laval, and King's University College at University of Western Ontario.
The Paradox of “Fraud-on-the-Market Theory”: Who Relies on the Efficiency of Market Prices?
Article first published online: 12 MAY 2011
Copyright © 2011 Cornell Law School and Wiley Subscription Services, Inc.
Journal of Empirical Legal Studies
Volume 8, Issue 2, pages 260–303, June 2011
How to Cite
Erenburg, G., Smith, J. K. and Smith, R. L. (2011), The Paradox of “Fraud-on-the-Market Theory”: Who Relies on the Efficiency of Market Prices?. Journal of Empirical Legal Studies, 8: 260–303. doi: 10.1111/j.1740-1461.2011.01209.x
- Issue published online: 12 MAY 2011
- Article first published online: 12 MAY 2011