The DOI matches its Crossref record.
The Behavior of Stock-Market Prices
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cited by
Risk, Return, and Equilibrium: Empirical Tests
Fama, E. F., & MacBeth, J. D. (1973) · Journal of Political Economy · doi:10.1086/260061 · Cited by 14,258
Self-citationShleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03807.x · Cited by 5,291
FAMA, E. F. (1991) · The Journal of Finance · doi:10.1111/j.1540-6261.1991.tb04636.x · Cited by 5,350
Self-citationTwitter mood predicts the stock market
Bollen, J., Mao, H., & Zeng, X. (2011) · Journal of Computational Science · doi:10.1016/j.jocs.2010.12.007 · Cited by 5,206
“Early research on stock market prediction [1], [2], [3] was based on random walk theory and the Efficient Market Hypothesis (EMH) [4].”
BackgroundSimple technical trading rules and the stochastic properties of stock returns
BROCK, W., LAKONISHOK, J., & LeBARON, B. (1992) · The Journal of Finance · doi:10.1111/j.1540-6261.1992.tb04681.x · Cited by 2,301
Stock returns and the weekend effect
French, K. R. (1980) · Journal of Financial Economics · doi:10.1016/0304-405x(80)90021-5 · Cited by 1,998
Correlations in price changes and volatility across international stock markets
Hamao, Y., Masulis, R. W., & Ng, V. (1990) · Review of Financial Studies · doi:10.1093/rfs/3.2.281 · Cited by 1,926
Size-related anomalies and stock return seasonality
Keim, D. B. (1983) · Journal of Financial Economics · doi:10.1016/0304-405x(83)90025-9 · Cited by 1,801
An Engine, Not a Camera: How Financial Models Shape Markets
MacKenzie, D. (2006) · doi:10.7551/mitpress/9780262134606.001.0001 · Cited by 1,766
Ioannou, I., & Serafeim, G. (2015) · Strategic Management Journal · doi:10.1002/smj.2268 · Cited by 1,124
Risk, The Pricing of Capital Assets, and The Evaluation of Investment Portfolios
Jensen, M. C. (1969) · The Journal of Business · doi:10.1086/295182 · Cited by 942
Measuring skill in the mutual fund industry
Berk, J. B., & van Binsbergen, J. H. (2015) · Journal of Financial Economics · doi:10.1016/j.jfineco.2015.05.002 · Cited by 820
The evolution of stock market efficiency over time: A survey of the empirical literature
Lim, K.-P., & Brooks, R. (2011) · Journal of Economic Surveys · doi:10.1111/j.1467-6419.2009.00611.x · Cited by 410
Handbook of Quantile Regression
(2017) · doi:10.1201/9781315120256 · Cited by 392
RANDOM WALKS AND TECHNICAL THEORIES: SOME ADDITIONAL EVIDENCE
Jensen, M. C., & Benington, G. A. (1970) · The Journal of Finance · doi:10.1111/j.1540-6261.1970.tb00671.x · Cited by 369
Are Asian stock markets efficient? Evidence from new multiple variance ratio tests
Kim, J. H., & Shamsuddin, A. (2008) · Journal of Empirical Finance · doi:10.1016/j.jempfin.2007.07.001 · Cited by 311
Technical analysis and the London stock exchange: Testing the MACD and RSI rules using the FT30
Chong, T. T.-L., & Ng, W.-K. (2008) · Applied Economics Letters · doi:10.1080/13504850600993598 · Cited by 220
Consistent cross-validatory model-selection for dependent data: hv-block cross-validation
Racine, J. (2000) · Journal of Econometrics · doi:10.1016/s0304-4076(00)00030-0 · Cited by 205
Random walks and market efficiency tests of Latin American emerging equity markets: A revisit
Ojah, K., & Karemera, D. (1999) · Financial Review · doi:10.1111/j.1540-6288.1999.tb00454.x · Cited by 161
The Rhetoric and Reality of Anthropomorphism in Artificial Intelligence
Watson, D. (2019) · Minds and Machines · doi:10.1007/s11023-019-09506-6 · Cited by 148
Rosillo, R., de la Fuente, D., & Brugos, J. A. L. (2013) · Applied Economics · doi:10.1080/00036846.2011.631894 · Cited by 105
Anbaee Farimani, S., Vafaei Jahan, M., Milani Fard, A., & Tabbakh, S. R. K. (2022) · Knowledge-Based Systems · doi:10.1016/j.knosys.2022.108742 · Cited by 93
Environmentally significant behavior in the home
Stern, P. C. (2008) · The Cambridge Handbook of Psychology and Economic Behaviour · doi:10.1017/cbo9780511490118.015 · Cited by 50
(2011) · AFRICAN JOURNAL OF BUSINESS MANAGEMENT · doi:10.5897/ajbm10.474 · Cited by 48
A Nonlinear Autoregressive Distributed Lag (NARDL) Analysis of the FTSE and S&P500 Indexes
Allen, D., & McAleer, M. (2021) · Risks · doi:10.3390/risks9110195 · Cited by 35
Gerritsen, D. F. (2016) · International Review of Financial Analysis · doi:10.1016/j.irfa.2016.06.008 · Cited by 32
Performance of technical trading rules: evidence from the crude oil market
Psaradellis, I., Laws, J., Pantelous, A. A., & Sermpinis, G. (2019) · The European Journal of Finance · doi:10.1080/1351847x.2018.1552172 · Cited by 27
Stock Market Increase and Decrease using Twitter Sentiment Analysis and ARIMA Model
Kedar, S. V. (2021) · Turkish Journal of Computer and Mathematics Education (TURCOMAT) · doi:10.17762/turcomat.v12i1s.1596 · Cited by 10
Informational Efficiency and Behaviour Within In-Play Prediction Markets
Angelini, G., De Angelis, L., & Singleton, C. (2020) · Social Science Research Network · doi:10.2139/ssrn.3505287 · Cited by 23
Metadata
- Authors
- Fama, E. F.
- Venue
- The Journal of Business
- Publisher
- University of Chicago Press
- Published
- 1965-01
- Volume
- 38
- Issue
- 1
- Pages
- 34
- ISSN
- 0021-9398 (ISSN-L)
- 1537-5374
- OpenAlex
- W2090637028
- Cited by
- 8,664
- References
- 0
- FWCI
- 59.28
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.