Opinion about Market Efficiency among Finance Professors in India

Abstract

In this paper, opinion of finance professors about market efficiency is identified in India. A questionnaire survey was distributed to more than 250 finance professors in India which was responded by 112 of them. The main finding of the survey was that most professors do not believe that markets are efficient in any form. They find that information at every level i.e. past, present and future (insider) is useful and can be used for profit making. The study is important because a finance professor is considered a specialist and they are the ones who will teach this to their students in theory as well as in practice.