Initial Reflections on an Evolving Standard Constraints on Risk Taking by Directors and Officers in
Painter and Kaal · 2010
_id=952472 (“Our findings that firm-specific characteristics are able to explain some variation of stock returns adds to the growing literature at odds with the efficient markets hypothesis and leads us to seek salvation in behavioural [sic] explanation.”). 38 See generally ROBERT A. HAUGEN, THE NEW FINANCE: THE CASE AGAINST EFFICIENT MARKETS (1995) (arguing that the efficient market theory is unrealistic and present- ing evidence supporting inefficient markets); ROBERT J. SHILLER, IRRATIONAL EElleeccttrroonniicc ccooppyy aavvaaiillaabbllee aatt:: hhttttppss::////ssssrrnn..ccoomm//aabbssttrraacctt==11555588661144
Cite: Painter and Kaal, Initial Reflections on an Evolving Standard Constraints on Risk Taking by Directors and Officers in (2010). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1558614
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