{"id":25907,"date":"2023-12-07T02:15:10","date_gmt":"2023-12-07T02:15:10","guid":{"rendered":"https:\/\/masterskills.org\/blog\/gia-thuyet-thi-truong-hieu-qua-efficient-market-hypothesis-la-gi.html"},"modified":"2023-12-22T11:23:46","modified_gmt":"2023-12-22T04:23:46","slug":"gia-thuyet-thi-truong-hieu-qua-efficient-market-hypothesis-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/gia-thuyet-thi-truong-hieu-qua-efficient-market-hypothesis-la-gi.html","title":{"rendered":"Gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3 (Efficient Market Hypothesis) l\u00e0 g\u00ec?"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda. e-wiki.org<\/p>\n<\/div>\n<\/div>\n

Gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3 (Efficient Market Hypothesis)<\/font><\/h2>\n

\u0110\u1ecbnh ngh\u0129a<\/b><\/p>\n

Gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3<\/b> trong ti\u1ebfng Anh l\u00e0 Efficient Market Hypothesis<\/b>.\u00a0<\/p>\n

Gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3<\/i>\u00a0l\u00e0 gi\u1ea3 thuy\u1ebft cho r\u1eb1ng\u00a0th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh c\u00f3 hi\u1ec7u qu\u1ea3\u00a0t\u1ed3n t\u1ea1i khi\u00a0t\u1ea5t c\u1ea3 c\u00e1c th\u00f4ng tin s\u1eb5n c\u00f3 v\u00e0 c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 ch\u1ee9ng kho\u00e1n \u0111\u1ec1u ph\u1ea3n \u00e1nh l\u1ea1i trong gi\u00e1 ch\u1ee9ng kho\u00e1n.<\/p>\n

\u0110i\u1ec1u n\u00e0y h\u00e0m \u00fd r\u1eb1ng s\u1ef1 c\u1ea1nh tranh ho\u00e0n h\u1ea3o t\u1ed3n t\u1ea1i trong ph\u1ea1m vi m\u1ed9t th\u1ecb tr\u01b0\u1eddng nh\u01b0 th\u1ebf, cho n\u00ean nh\u1eefng thay \u0111\u1ed5i trong gi\u00e1 ch\u1ee9ng kho\u00e1n ch\u1ec9 b\u1ecb \u1ea3nh h\u01b0\u1edfng b\u1edfi vi\u1ec7c thu th\u1eadp th\u00f4ng tin.<\/p>\n

N\u1ed9i dung gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3<\/font><\/h3>\n

– Theo gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3<\/b> – EMH, c\u1ed5 phi\u1ebfu lu\u00f4n giao d\u1ecbch v\u1edbi gi\u00e1 tr\u1ecb h\u1ee3p l\u00ed c\u1ee7a ch\u00fang tr\u00ean c\u00e1c s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n, khi\u1ebfn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng th\u1ec3 mua\u00a0c\u1ed5 phi\u1ebfu\u00a0b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p (c\u1ed5 phi\u1ebfu d\u01b0\u1edbi gi\u00e1 tr\u1ecb) ho\u1eb7c b\u00e1n c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 tr\u1ecb th\u1ed5i v\u1ed3ng (c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 cao).<\/p>\n

– Gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3<\/i> nh\u1ea5n m\u1ea1nh r\u1eb1ng do th\u1ecb tr\u01b0\u1eddng n\u1eafm b\u1eaft nh\u1eefng th\u00f4ng tin m\u1edbi m\u1ed9t c\u00e1ch nhanh ch\u00f3ng n\u00ean k\u00ec v\u1ecdng v\u1ec1 nh\u1eefng thay \u0111\u1ed5i gi\u00e1 c\u1ea3 trong t\u01b0\u01a1ng lai \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh m\u1ed9t c\u00e1ch ng\u1eabu nhi\u00ean so v\u1edbi gi\u00e1 tr\u1ecb c\u01a1 b\u1ea3n c\u1ee7a ch\u1ee9ng kho\u00e1n. C\u00e1c nh\u00e0 th\u1ed1ng k\u00ea g\u1ecdi nh\u1eefng hi\u1ec7n t\u01b0\u1ee3ng nh\u01b0 v\u1eady l\u00e0 qui lu\u1eadt ng\u1eabu nhi\u00ean.<\/p>\n

– V\u00ed d\u1ee5, n\u1ebfu m\u1ed9t c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 tr\u1ecb ban \u0111\u1ea7u l\u00e0 10 \u0111\u00f4 la, th\u00ec s\u1ef1 t\u0103ng hay gi\u1ea3m gi\u00e1 ti\u1ebfp theo c\u00f3 kh\u1ea3 n\u0103ng x\u1ea3y ra nh\u01b0 nhau. N\u1ebfu n\u00f3 t\u0103ng l\u00ean, v\u00ed d\u1ee5 11 \u0111\u00f4 la, th\u00ec trong l\u1ea7n thay \u0111\u1ed5i gi\u00e1 ti\u1ebfp theo, vi\u1ec7c t\u0103ng hay gi\u1ea3m gi\u00e1 v\u1eabn c\u00f3 x\u00e1c su\u1ea5t nh\u01b0 nhau.<\/p>\n

\u00dd ngh\u0129a c\u1ee7a quan \u0111i\u1ec3m cho r\u1eb1ng gi\u00e1 c\u1ea3 tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n tu\u00e2n theo qui<\/span> lu\u1eadt ng\u1eabu nhi\u00ean h\u00e0m \u00fd r\u1eb1ng nh\u1eefng thay \u0111\u1ed5i v\u1ec1 gi\u00e1 c\u1ea3 \u0111\u1ed9c l\u1eadp v\u1edbi nhau.<\/p>\n

– C\u00e1c ki\u1ec3m \u0111\u1ecbnh th\u1ef1c nghi\u1ec7m v\u1ec1 gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3 \u0111\u01b0\u1ee3c ph\u00e2n lo\u1ea1i th\u00e0nh ki\u1ec3m \u0111\u1ecbnh y\u1ebfu, v\u1eeba v\u00e0 m\u1ea1nh. C\u1ee5 th\u1ec3:<\/p>\n

+ Ki\u1ec3m \u0111\u1ecbnh y\u1ebfu nh\u1eadn \u0111\u1ecbnh kh\u00f4ng th\u1ec3 d\u1ef1a v\u00e0o gi\u00e1 trong qu\u00e1 kh\u1ee9 \u0111\u1ec3 d\u1ef1 b\u00e1o gi\u00e1 t\u01b0\u01a1ng lai v\u00e0 \u0111i\u1ec1u n\u00e0y \u0111\u01b0\u1ee3c gi\u1ea3 thuy\u1ebft qui<\/span> lu\u1eadt ng\u1eabu nhi\u00ean \u1ee7ng h\u1ed9.<\/p>\n

+ Ki\u1ec3m \u0111\u1ecbnh v\u1eeba nh\u1eadn \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu ph\u1ea3n \u00e1nh l\u1ea1i t\u1ea5t c\u1ea3 c\u00e1c th\u00f4ng tin m\u00e0 m\u1ecdi ng\u01b0\u1eddi c\u00f3 \u0111\u01b0\u1ee3c.<\/p>\n

+ Ki\u1ec3m \u0111\u1ecbnh m\u1ea1nh nh\u1eadn \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu ph\u1ea3n \u1ea3nh l\u1ea1i t\u1ea5t c\u1ea3 th\u00f4ng tin.<\/p>\n

Kh\u00f3 c\u00f3 th\u1ec3 tin r\u1eb1ng gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3 l\u1ea1i \u0111\u00fang d\u01b0\u1edbi h\u00ecnh th\u1ee9c m\u1ea1nh, v\u00ec r\u00f5 r\u00e0ng kh\u00f3 c\u00f3 th\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c t\u1ea5t c\u1ea3 c\u00e1c th\u00f4ng tin c\u1ea7n thi\u1ebft.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: T\u1eeb \u0111i\u1ec3n Kinh t\u1ebf h\u1ecdc, NXB \u0110\u1ea1i h\u1ecdc Kinh t\u1ebf Qu\u1ed1c d\u00e2n;\u00a0Efficient Market Hypothesis (EMH) Definition, Investopedia)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3 (ti\u1ebfng Anh: Efficient Market Hypothesis) l\u00e0 gi\u1ea3 thuy\u1ebft cho r\u1eb1ng th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh c\u00f3 hi\u1ec7u qu\u1ea3 t\u1ed3n t\u1ea1i khi t\u1ea5t c\u1ea3 c\u00e1c th\u00f4ng tin s\u1eb5n c\u00f3 v\u00e0 c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn gi\u00e1 ch\u1ee9ng kho\u00e1n \u0111\u1ec1u ph\u1ea3n \u00e1nh l\u1ea1i trong gi\u00e1 ch\u1ee9ng kho\u00e1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[414],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/25907"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=25907"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/25907\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=25907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=25907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=25907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}