An attempt to study the behavior of European portfolios returns According to the efficient market hypothesis

Abstract

In this article, we re-examine the subject of effcient market hypothesis, and we trying to explain behavior returns of european portfolios, this article evaluates the robustness capital asset pricing model (CAPM) ( who use only the β ) to explaining the returns . we find that (CAPM) model does a good job but he need other factors to explaining the returns.