NO.PZ2015122801000024
问题如下:
How many of the following statements about the evidence of anomalies in stock returns is true?
1. Anomalies are due to the methodologies used in anomaly research, such as data mining.
2. Semi-strong form efficiency holds but weak form market efficiency does not.
3. Weak-form market efficiency holds but semi-strong form efficiency does not.
选项:
A.None.
B.One.
C.Two.
解释:
B is correct.
Only the first statement that anomalies are due to the research methodologies used is true. Most evidence suggests anomalies are not violations of market efficiency.
B是正确的。
本题中,只有第一个说法是正确的。2,3都错。本题的考点是市场的异常现象,并不能推翻有效市场假说,他们只是由于统计方法的选择和使用的偏差造成的。所以1是正确的。
无论半强有效还是弱有效(因为他们都属于有效市场假说的一部分),市场异常现象都不能推翻他们。统计方法的偏差导致的所谓的规律,和市场是否弱有效,是两个独立事件,是没有必然因果关系的。所以无论2,还是3,都是错误的。
第三条是不是本身没有错误,但是不适合这道题目的答案?