Being able to separate temporary global macroeconomic influences - caused by fluctuations in exchange rates, interest rates and inflation - from intrinsic performance - related to a superior product, production process or management - is crucial to the assessment of the development of a firm’s...

The major strand of finance literature understands market efficiency through the market's ability to process information into prices. Another strand of literature refers to the economists' usual sense of the word, i.e. that markets ensure that resources are allocated to their most profitable...