A Critical Look at the Efficient Market Empirical Research Literature As It Relates to Accounting Information.

Key Points

• The article aims to assess the empirical research on the efficient market hypothesis and its relevance to accounting information.
• Review of existing literature on efficient markets and accounting information
• Critical analysis of the frictionless nature of the efficient market hypothesis
• Discussion on the challenges of conducting empirical research
• Questioned the assumptions of the efficient market hypothesis in accounting contexts
• Identified empirical research as both time-consuming and complex
• Highlighted the importance of this research area for accounting scholars over the past decade