The Comparative Analysis Of Efficiency Market Between China And Australia

There is a great development in China's stock market since 1990s, a lot of enterprises gathered funds and changed their mechanism through the progress of this market, the efficiency of this market at the same time greatly changed. However as the new circle of rise and fall in this market call attention of many scholars for the problem in this market, is this market as maturity as western market, and is it an efficient market? It seems that tradition theory can not answer these questions now, it needs new theories and solutions. In this essay, it will use new ways of research to make comparative analysis of two markets—China and Australia. There are five parts in this essay. The first parts briefly introduce the meaning and background of doing this research. The second parts provide sufficient evidence to support the whole idea of comparative analysis between those two countries after the study of research of market efficiency theories in the past. The third parts mainly focus on the method of doing this research. The fourth parts provide the whole process of emprical anlayse, and come to the conlusion that China's stock market is not efficient. The last parts give suggestions for how to become an effient market, and how to make progress. At the end we conclude that China's stock market needs to improve to enhance transparency of the all the transactions and the accuracy and puncturity of accounting information.