Hirshleifer, J., Riley, J. (1979) The Analytics of Uncertainty and Information - An Expository Servey. Journal of Economic Literature, Vol. 17, pp. 1375-1421.

Hirshleifer, J., Riley, J. (1992) The Analytics of Uncertainty and Information. Cambridge: Cambridge University Press.

Holthausen, R., Lefiwich, R., Mayers, D. (1987) The Effect of Large Block Transactions on Security Prices. Journal of Financial Economics, Vol. 19, pp. 237-267.

Holthausen, R., Lefiwich, R., Mayers, D. (1990) Large Block Transactions, the Speed of Response, and Permanent Stock-Price Effects. Journal of Financial Economics, Vol. 26, pp. 71-95.

Hong, H., Stein, J. (1999) A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets. Journal of Finance, Vol. 54, pp. 2143- 2184.

Hong, H., Kubik, J., Solomon, A. (2000) Security Analysts Career Concerns and Herding of Earnings Forecasts. RAND Journal of Economics, Vol. 31, pp. 121-144.

Hong, H., Lim, Т., Stein, J. (2000) Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies. Journal of Finance, Vol. 55, pp. 265-295.

Houthakker, H. (1957) Can Speculators Forecast Prices? Review of Economics and Statistics, Vol. 39, pp. 143-151.

Houthakker, H. (1961) Systematic and Random Elements in Short-Term Price Movements. American Economic Review, Vol. 51, pp. 164-172.

Jarrow, R. (1992) Market Manipulation, Bubbles, Corners, and Short Squeezes. Journal of Financial and Quantitative Analysis, Vol. 27, pp. 311-336.

Jegadeesh, N. (1990) Evidence of Predictable Behavior of Security Returns. Journal of Finance, Vol. 45, pp. 881-898.

Jegadeesh, N., Titman, S. (1993) Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency. Journal of Finance, Vol. 48, pp. 65-91.

Jegadeesh, N., Titman, S. (1995) Overreaction, Delayed Reaction and Contrarian Profits. Review of Financial Studies, Vol. 8, pp. 973-993.

Jensen, M. (1972) Optimal Utilization of Market Forecasts and the Evaluation of Investment Performance. In Szego/Shell (eds.) Mathematical Methods in Investment and Finance, Amsterdam: North-Holland.

Jensen, M. (1978) Some Anomalous Evidence Regarding Market Efficiency. Journal of Financial Ecorwmics, Vol. 6, pp. 95-101.

Jensen, M., Benington, G. (1970) Random Walks and Technical Theories: Some Additional Evidence. Journal of Finance, Vol. 25, pp. 469-482.

Kendall, M. (1953) The Analysis of Economic Time Series: Part 1. Prices./oMrna/ of Royal Statistical Society, Series A, Vol. 96, pp. 11-25.

Keynes, J. (1936) The General Theory of Employment, Interest and Money. New York: Harcourt, Brace.

Kyle, A. (1985) Continuous Auctions and Insider Trading. Econometrica, Vol. 53, pp. 1315-1335.

Laconishok, J., Shieifer, A., Vishny, R. (1992) The Impact of Institutional Trading on Stock Prices. Journal of Financial Economics, Vol. 32, pp. 23-43.

LeRoy, S (1973) Risk Aversion and the Martingale Property of Stock Prices. International Economic Review, Vol. 14, pp. 436 446.

LeRoy, S. (1982) Expectations Models of Asset Prices: A Survey of Theory. Journal of Finance, Vol. 37, pp. 185 -217.

LeRoy, S. (1984) Efficiency and the Variability of Asset Prices. American Economic Review, Vol. 74, pp. 183-187.

LeRoy, S. (1989) Efficient Capital Markets and Martingales. Journal of Economic Literature, Vol. 27, pp. 1583-1621.

LeRoy, S. (1996) Stock Price Volatility. In Maddala, G., Rao, C. (cds.) Handbook of Statistics, Vol. 14. Amsterdam, Netherlands: Elsevier Science B.V.

LeRoy, S., LaCivita, C. (1981) Risk Aversion and the Dispersion of Asset Prices. Journal of Business, Vol. 54, pp. 535 -547.

LeRoy, S., Parke, W. (1992) Stock Price Volatility: Tests Based on the Geometric Random Walk. American Economic Review, Vol. 82, pp. 981-992.

LeRoy, S., Porter, R. (1981) The Present-Value Relation: Tests Based on Implied Variance Bounds. Econometrica, Vol. 49, pp. 555-574.

LeRoy, S., Steigerwald, D. (1995) Volatility. In Jarrow, R. et al. (editors) Handbooks in OR & MS, Vol. 9. Amsterdam, Netherlands: Elsevier Science B.V.

Lo, A., MacKinlay, C. (1988) Stock Market Prices Do Not Follow Random Walks: Evidence from a Simple Specification Test. Review of Financial Studies, Vol. 1, pp. 41-66.

Lo, A., MacKinlay, C. (1999) A Non-Random Walk Down Wall Street. Princeton: Princeton University Press.

Malkiel, B. (1990) A Random Walk Down Wall Street. Firth edition. New York: W.W. Norton&Company.

Malkiel, B. (1992) Efficient Market Hypothesis. In Newman, P., M. Milgate, and J. Eatewell (editors). New Palgrave Dictionary of Money and Finance. London: Macmillan.

Malkiel, В., Firstenberg, R (1978) A Winning Strategy for an Efficient Market. Journal of Portfolio Management, Vol. 4, pp. 20-25.

Marsh, P. (1979) Equity Rights Issues and the Efficiency of the UK Stock Market. Journal of Finance, Vol. 34, pp. 839-862.

Marsh, Т., Merton, R. (1986) Dividend Variability and Variance Bounds Tests for the Rationality of Stock Prices. American Economic Review, Vol. 76, pp. 483- 498.

Mehra, R., Prescott, E. (1985) The Equity Premium: A Puzzle. Journal of Monetary Economics, Vol. 15, pp. 145-161.

Mehra, R., Prescott, E. (1988) The Equity Risk Premium: A Solution?Лигпа/о/ Monetary Economics, Vol. 22, pp. 133-136.

Merton, R. (1987) On the Current State of the Stock Market Rationality Hypothesis. In Dornbusch, R. et al. (eds.) Macroeconomics and Finance: Essays in Honor of Franco Modigliani. Cambridge: MIT Press.

Meulbroek, L (1992) An Empirical Analysis of Illegal Insider Trading. Journal of Finance, Vol. 47, pp. 1661-1699.

Meulbroek, L, Hart, C. (1997) The Effect of Illegal Insider Trading on Takeover Premia. Еиюреап Finance Review, Vol. 1, pp. 51-80.

Miller, E. (1977) Risk, Uncertainty, and Divei;gence of Opinion. Journal of Finance, Vol. 32, pp. 1151-1168.

Miller, E. (1978) How to Win at the Losers Game. Journal of Portfolio Management, Vol. 4, pp. 17-28.

Miller, E. (1979) A Simple Counter Example to the Random Walk Theory. Financial Analysts Journal, July-August, pp. 55-56.

Miller, E. (1987) Bounded Efficient Markets: A New Wrinkle to the EMH. Journal of Portfolio Management, Vol. 13, pp. 4-13.

Miller, E. (2000) Equilibrium with Divergence of Opinion. Review of Financial Economics, Vol. 9, pp. 27- 41.

Morck, R.. Shieifer, A., Vishny, R. (1990) The Stock Market and Investment: Is the Market a Sideshow? Brookings Papers on Economic Activity, Vol. 2, pp. 157- 202.

Muradoglu. G., Akkaya, N., Chafra, J. (1998) The Effect of the Establishment of an Organized Exchange on Weak Form Efficiency: the Case of Istanbul Gold Exchange. European Journal of Finance, Vol. 4, pp. 85-92.

Muth, J. (1961) Rational Expectations and the Theory of Price Movements. Econometrica, Vol. 29, pp. 315-335.

Odean, T. (1998) Are Investors Reluctant to Realize Their Losses? Joumcd of Finance, Vol. 53, pp. 1775-1789.

Odean, T. (1998) Volume, Volatility, Price, and Profit When All Traders Are Above Average. Journal of Finance, Vol. 53, pp. 1887-1934.

Odean, T. (1999) Do Investors Trade Too Much? American Economic Review, Vol. 89, pp. 1279-1298.

Owen, J., Rabinovitch, R. (1980) The Cost of Information and Equilibrium in the Capital Asset Market. Journal of Financial and Quantitative Analysis, Vol. 15, pp. 497-508.

Pearce, D., Roley, V. (1983) The Reaction of Stock Prices to Unanticipated Changes in Money: A Note. Journal of Finance, Vol. 38, pp. 1323-1333.

Pearce, D., Roley, V. (1985) Stock FWces and Economic ews. Journal of Business, Vol. 58, pp. 49-67.

Poterba, J., Summers, L. (1988) Mean-reversion in Stock Prices: Evidence and Implications. Journal of Financial Economics, Vol. 22, pp. 27-59.

Rabinovitch, R., Owen, J. (1978) Nonhomogeneous Expectations and Information in the Capital Asset Market. Journal of Finance, Vol. 33, pp. 575-587.

Reinganum, M. (1983) Portfolio Strategies Based on Market Capitalization. Journal of Portfolio Management, Vol. 18, pp. 29-36.

Reinganum, M. (1992) A Revival of the Small Firm Effect. Journal of Portfolio Management, Vol. 18, pp. 55-62.

Rietz, T. (1988) The Equity Risk Premium: A Solution. Journal of Monetary Economics, Vol. 22, pp. 117-131.

Roberts, H. (1959) Stock Market «Pattems» and Financial Analysis: Methodological Suggestions. Journal of Finance, Vol. 14, pp. 1-10.

Roberts, H. (1967) Statistical versus Clinical Predictions of the Stock Market. Unpublished manuscript. University of Chicago.

Roll, R. (1983) Vas ist Das? The Tum-of-the-Year Effect and the Return Premia of Small Firms. Journal of Portfolio Management, Vol. 9, pp. 18-28.

Roll, R. (1984) Orange Juice and Weather. American Economic Review, Vol. 74, pp. 861-880.

Roll, R. (1988) R2. Journal of Finance, Vol. 43, pp. 541-566.

Roll, R. (1994) What Every CFO Should Know About Scientific Progress in Financial Economics: What is Known and What Remains to be Resolved. Financial Management, Vol. 23, pp. 69-75.

Rosenberg, В., Reid, K., Lanstein, R. (1985) Persuasive Evidence of Market Inefficiency. Journal of Portfolio Management, Vol. 11, pp. 9-17.

Rosenthal, L, Young, C. (1990) The Seemingly Anomalous Price Behavior of Royal Dutch/Shell and Unilever N.V./PLC. Journal of Financial Economics, Vol. 26, pp. 123-141.

Rouwenhorst, G. (1998) International Momentum Strategies. Journal of Finance, Vol. 53, pp. 267-284.