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1.Define the efficient market hypothesis (EMH).

1.Define the efficient market hypothesis (EMH). 
2. What are the implications of EMH for corporate managers?
APA 6th edition 
Minimun 450 words, add citations and references.
BOOK REFERENCE: Vernimmen, P., Quiry, P., Dallocchio, M., Le Fur, Y., & Salvi, A. (2014). Corporate finance: Theory and practice, (4th ed). Chichester, West Sussex UK: John Wiley & Sons