5.1 Describe the three forms of the Efficient Market Hypothesis (EMH) and the types of empirical tests that have been used to test them. (10 marks) 5.2 Define the "small firm effect". "The existence of the small firm effect provides a definite rejection of the EMH". Do you agree with this statement? Are there any explanations for this effect that make it consistent with one of the forms of the EMH? (10 marks)