40.
In an informationally efficient securities market, new information results in profit-maximizing investors making price adjustments that are best described as:
Select exactly 1 answers from the following:
A. unbiased but not predictable.
B. predictable but not unbiased.
C. both unbiased and predictable.
D. neither unbiased nor predictable.
答案和详解如下！
Feedback: Correct answer: A
Investment Analysis and Portfolio Management, 7th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2003), pp. 177 2006 Modular Level I, Vol. III, pp. 306-307 Study Session 12-54-a define an efficient capital market, discuss arguments supporting the concept of efficient capital markets, describe and contrast the forms of the efficient market hypothesis (EMH): weak, semistrong, and strong, and describe the tests used to examine the weak form, the semistrong form, and the strong form of the EMH
In an informationally efficient securities market, price adjustments are assumed to be rapid but not perfect; the adjustment is unbiased, but the market may over or under adjust and investors cannot predict which will occur.
| 
发表于 2006-11-21 12:17
| 