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A hundred years ago or so, companies did not compile annual reports. Even if you owned...

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Finance

  1. A hundred years ago or so, companies did not compile annualreports. Even if you owned stock in a particular company, you wereunlikely to be allowed to see the balance sheet and incomestatement for the company. Assuming the market is semi-strong-formefficient, what does this say about market efficiency then comparedto now?

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A hundred years ago or so, companies did not compile annualreports. Even if you owned stock in a particular company, you wereunlikely to be allowed to see the balance sheet and incomestatement for the company. Assuming the market is semi-strong-formefficient, what does this say about market efficiency then comparedto now?

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