Define semistrong form of market efficiency

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 8MC
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Define semistrong form of market efficiency

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Efficient market is one where the market price constitutes a balanced estimate of investment’s true value. Market efficiency doesn’t require that at every point in time the market price be equal to the true value. It requires that market price errors have to be unbiased.

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