Which of the following has not been involved in a direct test of the semi-strong form of the efficient market hypothesis?
A) Stock splits
B) New Issues
C) Exchange listing
D) Accounting changes
E) Specialists' returns

Question

Quizplus · Accepted Answer

Specialists' returns have not been involved in a direct test of the semi-strong form of the efficient market hypothesis. The other options have all been involved in direct tests of the semi-strong form.

Which of the Following Has Not Been Involved in a Direct