【摘要】 以沪市证券市场为例 ,讨论了我国股市制度规范的特点、市场有效性与制度建设的关系 ,并对制度规范时市场的效率水平做了实证分析 ;结果表明 :市场的效率与制度的成熟程度有关 ,《证券法》颁布时市场达到弱式有效的水平更多还原

【Abstract】 This paper analyses the characters of Chinese stock market, the theory of market efficiency, and the development of the Chinese stock market system. It then gives an empirical research on the stock market efficiency. The result is that the market efficiency has certain relation to the system, and market is a weak-form efficiency,proved by the test of the event-study analysis.更多还原