Which of the following is not an anomaly that has been noted to the efficient markets hypothesis

Question

Quizplus · Accepted Answer

The efficient markets hypothesis (EMH) suggests that all available information is already reflected in stock prices, and thus, no investor can consistently achieve higher returns. Anomalies to EMH include situations where market prices react to more than just accounting information (A), where firms followed by analysts perform better (B), and where investor interest varies by market (C). However, it is generally observed that small firms tend to have higher, not smaller, returns than larger firms, which contradicts choice D and makes it not an anomaly noted to the efficient markets hypothesis. This is often referred to as the "size effect."

Which of the Following Is Not an Anomaly That Has