A) Define Economic Value Added (EVA), and explain why it offers a better measure of management performance. Use examples to make your points. Consider also if it has any shortcomings.

B) Economic Value Added is designed to provide an improved measure of management performance. Consider the potential problems with using conventional accounting information, define EVA, and explain how it could make management more accountable for their actions

C)Other tests establish whether either weak semi-strong or strong form efficiency is present. Describe how these tests might be applied, and briefly indicate research results and their implications. (10 Marks)

D) Define both semi-strong form and strong forms of market efficiency, and explain how each normally is tested. Conclude by identifying a number of examples of market anomalies, and discuss whether they can be considered as evidence that financial markets may not be efficient. (10 Marks)