2. Market efficiency (S12.2) True or false? The efficient-market hypothesis assumes that a. There are no taxes.

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2. Market efficiency (S12.2) True or false? The efficient-market hypothesis assumes that

a. There are no taxes.

b. There is perfect foresight.

c. Successive price changes are independent.

d. Investors are irrational.

e. There are no transaction costs.

f. Forecasts are unbiased.

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Principles Of Corporate Finance

ISBN: 9781264080946

14th Edition

Authors: Richard Brealey, Stewart Myers, Franklin Allen, Alex Edmans

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