| Considering Practical operation of stock market in our country,this thesis begins withthe Efficiency Market hypothesis (EMH),and then it demonstrates the market efficiency ofChinese Stock Market.The fundamental aim of this thesis is to analysis and estimate whether the Chinese stockmarket is efficiency,furthermore,to Point out the degree of the efficiency,and also to Putforward the cause that the market efficiency of Chinese Stock Market.During my research,firstly I adopt metric model from CAPM to test the weak formefficiency in Chinese Stock Market. Secondly, I use the share Prices reactions to 2005 annalsannouncements to detect the semi-strong efficiency. Finally, I find that Chinese Stock Markethas been weak form efficiency,and hasn't reached semi-strong efficiency. |
PDF Full Text Request