Which of the following statements about the semistrong form of the efficient market hypothesis is FALSE?
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A) |
The semistrong form of market efficiency assumes that all past price movements have been incorporated into the price of the security. |
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B) |
The difference in trading activity is the likely cause of the size (or small firm) effect. |
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C) |
Stocks tend to outperform if bought in December and sold in the first week of January. |
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D) |
Stock exchange specialists derive above-average returns. |
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The correct answer was B) The difference in trading activity is the likely cause of the size (or small firm) effect.
The difference in trading activity is not the likely cause of the firm size effect. | 
发表于 2006-4-27 14:49
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