I appreciate your response to the following....... a. "In efficient markets the expected return on each stock is the same". Is it a true statement? Please explain biefly why or why not. b. Is it true that when making a dividend decision, managers should primarily be concerned about what signal it conveys to the market. why or why not. Please briefly explain. c. Because of differing market imperfections, financing decisions (related to the right side of the balancesheet) are less easily reversed than investment decisions (related to left side of balance sheet. Is this true? briefly explain why or why not. d. Is it true that the semi-strong form of the efficient market hypothesis states that prices reflect all publicly available information? Explain why or why nor. Thanks in advance.