15. (Market efficiencypublic information) Two years after the MBC Company went public, it was found that the

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15. (Market efficiency—public information) Two years after the MBC Company went public, it was found that the company tampered with the accounting reports. As a result of this finding, the price of the company’s stocks fell by 80% the next day. Does the sharp fall in price violate market efficiency?

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Principles Of Finance With Excel

ISBN: 9780190296384

3rd Edition

Authors: Simon Benninga, Tal Mofkadi

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