→ billy0501:= =有分強式 半強式 弱式,應該是問符合哪一種 04/24 17:06
- If markets are efficient, what would be the expected return behavior
around a positive dividend surprise (use a chart or a verbal description
to qualitatively describe return behavior before, at, and after the
announcement)?
- An internet company’s CEO announces that it will be divesting its
loss-making payment system unit. The company’s stock price goes up
by 5% on the day of the announcement, equivalent to an abnormal
return of 2.5%, and stays at the high level thereafter.
Is this consistent with market efficiency? Can you think of a trading rule?
- In December of 2002, a new manager was hired by a struggling
domestic equities hedge fund. In 2003-2007, the hedge fund has
realized absolute returns in excess of 40% a year.
Is this fund’s performance consistent with market efficiency?
(Give a qualitative answer and state your reasoning.)
第一題我是認為 既然符合效率市場 所有的資訊會立刻公開反映
所以return 在前 中 後 三個時間點應該都持平
不應該會有abnormal的情況發生
第二題就感覺應該是不符合效率市場了
應該是不符合半強勢效率市場嗎?
第三題 應該也是不符合....嗎??
但是我有點搞不清楚他是不符合哪一個
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