The introductory issue of the Journal of Financial Research
contains six articles in Farsi and one in English. It also offers a
glossary of financial terminology. The first article deals with the
Efficient Capital Market Hypothesis , and is authored by
DR. ali jahankhani & Hussein abdoh tabrizi. It explains
the concept and theories of capital market efficiency and their
historical development in the past quarter of a century. The
efficiency of captial markets is an important characteristics of
capitalistic economies because it would help determine a fair
value for corporate storks. It also channels the flow of funds to
the economic growth of the developing communities. The timing
of the article is also relevant as it coincides with reactivation of
the Tehran Stock Exchange.
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