@article{Fama-1998, title = {Market Efficiency, Long-term Returns, and Behavioral Finance}, author = {Eugene F. Fama}, month = {1 September}, number = {3}, pages = {283-306}, volume = {49}, year = {1998}, biburl = {http://www.bibsonomy.org/bibtex/23bd0fa20a43003aa00482849e164188e/deepgorge}, abstract = {Market efficiency survives the challenge from the literature on long-term return anomalies. Consistent with the market efficiency hypothesis that the anomalies are chance results, apparent overreaction to information is about as common as underreaction, and post-event continuation of pre-event abnormal returns is about as frequent as post-event reversal. Most important, consistent with the market efficiency prediction that apparent anomalies can be due to methodology, most long-term return anomalies tend to disappear with reasonable changes in technique.}, keywords = {imported } }