1. Explain efficient market hypothesis (EMH) in relation to pricing of equity shares on the stock markets/UK stock exchange and discuss the significance of stock market pricing efficiency to the quoted companies and its implications for corporate financing, investment policy and corporate financial reporting.

2. Explain the efficient market theory in relation to the pricing of equity shares on stock markets and explain its importance to companies and investors.

3. Critically evaluate the extent to which security prices on the major stock markets conform to efficient market hypothesis. In context of the evidence of so called stock market "anomalies", discuss the view that the pricing performance of equity markets conforms to the efficient market hypothesis.