| China＇s Stock Market： Inefficiencies and Institutional Implications |
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| 作者姓名： | Guoping Li |
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| 作者单位： | Assistant Professor, Investment Department, Central University of Finance and Economics, Beijing, China |
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| 摘 要： | The dramatic movements of China＇s stock market in the past two and a half years have renewed debate among academics over the efficiency of China＇s stock market. The present paper tests the efficiency of China＇ s stock market. The realization of efficient markets requires the effective operation of a complete set of macro and micro mechanisms. However, such mechanisms are not only incomplete in China＇ s stock market, but are also ineffective because of the prevalence of institutional deficiencies.
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| 关 键 词： | 中国 证券市场 制度 规范 效率 |
China＇s Stock Market： Inefficiencies and Institutional Implications |
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| Guoping Li.China＇s Stock Market： Inefficiencies and Institutional Implications[J].China & World Economy,2008,16(6):81-96. |
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| Authors: | Guoping Li |
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| Institution: | Assistant Professor, Investment Department, Central University of Finance and Economics, Beijing, China |
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| Abstract: | The dramatic movements of China's stock market in the past two and a half years have renewed debate among academics over the efficiency of China's stock market. The present paper tests the efficiency of China's stock market. The realization of efficient markets requires the effective operation of a complete set of macro and micro mechanisms. However, such mechanisms are not only incomplete in China's stock market, but are also ineffective because of the prevalence of institutional deficiencies. |
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| Keywords: | China＇s stock market efficient market short sale |
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