Fill in the missing words from the following list: semi-strong, strong, weak. There are three forms of
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There are three forms of the efficient-market theory. Tests that have found there are no patterns in share price changes provide evidence for the (a) form of the theory. Evidence for the (b) form of the theory is provided by tests that look at how rapidly markets respond to new public information, and evidence for the (c) form of the theory is provided by tests that look at the performance of professionally managed portfolios.
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Principles of Corporate Finance
ISBN: 978-1260013900
13th edition
Authors: Richard Brealey, Stewart Myers, Franklin Allen
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