F Akbas, L Ay, P Koch - Available at SSRN 4373735, 2023 - papers.ssrn.com
Contrary to the prevailing view, equity markets have not followed a consistent trend toward higher efficiency over the past century. Instead, we document a U-shaped pattern in the …
This dissertation consists of three essays that study the evolution of market efficiency and the impact of margin requirements on market efficiency and investors' risk-taking behavior. In the …