EMH theory in that , if price movement in financial market are random then there is no pattern that can be used in prediction therefore , available information and financial statement cannot information are quickly incorporated in the prices thus it is difficult to have a pattern or trend . These findings led to the random walk theory which stipulates that prices in the financial market take a random walk (Khan , 2004 Wald-wolfowitz , 2001 . Lastly , from the distribution of returns , the two samples...











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