Which of the following accounting research areas is based on the efficient markets hypothesis?

Question

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Capital markets research is based on the efficient markets hypothesis, which assumes all relevant information is reflected in stock prices and therefore, investors cannot earn abnormal returns by using publicly available information. This research area aims to understand the financial reporting and stock market information effects on financial markets. Option A, the decision-model approach, refers to using mathematical models to make decisions and does not specifically rely on the efficient markets hypothesis. Behavioral research (option B) focuses on understanding the cognitive and social factors that impact decision-making in accounting, while critical accounting (option C) examines the social, political, and economic implications of accounting practices rather than market efficiency.

Which of the Following Accounting Research Areas Is Based on the Efficient