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a ) Outline the three forms of the Efficient Markets Hypothesis ( EMH ) . [ 3 marks ] ( b ) Explain the implications
a Outline the three forms of the Efficient Markets Hypothesis EMH marks
b Explain the implications of the following factors and tests on market efficiency
i Trading costs,
ii Market liquidity
iii Chaos theory
iv Pricevolume relationship
v Event studies marks
c explain how you would expect each of the above factors and tests in b to differ on the NYSE, JSE and LuSE. marks
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