Stock Market Efficiency Theory and Implications for Financing Decisions
Financial Management Revision Article
Stock prices follow a distribution called random walk distribution.
Random walk hypothesis of stock prices
Efficient market hypothesis/theory (EMH)
Market efficiency - Implications for corporate finance
Prasanna Chandra, Financial Management, 5th Ed., Tata McGraw Hill, 2001
Brealey and Myers, Corporate Finance, Fifth Edition, Prentice Hall India, 2001