Empirical tests have yielded ________ evidence about market efficiency with a general consensus that developing foreign markets are ________.

Question

Quizplus · Accepted Answer

Empirical tests on market efficiency have produced conflicting evidence, meaning that there isn't a clear, unanimous finding that supports one conclusion over another. Additionally, there is a general consensus that developing foreign markets are not efficient, which means they do not always incorporate all available information into prices, leading to potential opportunities for excess returns.

Empirical Tests Have Yielded ________ Evidence About Market Efficiency with a General