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Has split share structure reform improved the efficiency of the Chinese stock market?

机译：股权分置改革是否提高了中国股市的效率？

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摘要

Split share structure reform brings about fundamental changes to the Chinese stock market. This article compares the market efficiency before and after this reform. The generalized spectral derivative method is applied, which can capture linear and nonlinear serial dependence, and has stronger power against departures from market efficiency. The results show that although the markets were inefficient before the split share structure reform, they have reached the weak-form efficiency after that. This fundamental reform has improved the Chinese stock market efficiency.View full textDownload full textRelated var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/13504851.2010.524604
机译：股权分置改革带来了中国股市的根本变化。本文比较了改革前后的市场效率。应用了广义谱导数法，该方法可以捕获线性和非线性序列相关性，并且具有较强的抵抗市场效率的能力。结果表明，尽管股权分置改革之前市场效率低下，但此后市场已达到弱形式效率。这项根本性的改革提高了中国股市的效率。 google，more“，发布号：” ra-4dff56cd6bb1830b“};添加到候选列表链接永久链接http://dx.doi.org/10.1080/13504851.2010.524604

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