In order to test the efficient-market hypothesis in the semi-strong form, researchers have used (the): Measurement of how rapidly security prices adjust to different news items Measurement of the performance of hedge fund managers to their insider information Measurement of the performance of mutual fund managers over the years Estimation of the serial correlation (autocorrelation) for securities and markets Which of the following is a statement of semi-strong form efficiency? 1) If the markets are efficient in the semi-strong form then prices will adjust immediately to public information II) If the markets are efficient in the semi-strong form then prices reflect all information III) If the markets are efficient in the semi-strong form then prices will adjust to newly published information after a long time delay Il only I only III only II and III only