(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implications for a company if
the stock market on which it is listed has been found to be semi-strong form. efficient. (9 marks)
正确答案：(b) The term ‘Efficient Market Hypothesis’ (EMH) refers to the view that share prices fully and fairly reflect all relevant availableinformation1. There are other kinds of capital market efficiency, such as operational efficiency (meaning that transaction
