Insiders of corporations appear able to earn abnormal returns from their trades. support weak-form market efficiency contradict weak-form market efficiency support semistrong-form market efficiency contradict semistrong-form market efficiency support strong-form market efficiency QUESTION 31 Given the existence of size effect and value effect in the financial markets, a fund manager shifts portfolio holdings to small value stocks will exhibit higher returns. lower returns. higher risk-adjusted returns. lower risk-adjusted returns