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Conduction Studies Of Stock Market Information

Posted on:2002-08-19Degree:MasterType:Thesis
Country:ChinaCandidate:H Y QuFull Text:PDF
GTID:2206360095452847Subject:Political economy
Abstract/Summary:PDF Full Text Request
Securities market is the typical information asymmetrical market. The information transmission 'efficiency directly influences the effectiveness of the securities market. In order to raise the effectiveness of the securities market and improve the market operation mechanism, thus make the securities market play a more important role in the development of national economy, it's necessary to constitute strict information announcement regulation and effective information transfer channels. Only by doing so, can the efficiency of the information in the securities market be increased and the stock prices reflect the stock values. Based on the ECMH and the Financial Noise Theory, the thesis analyzed the information transmission mechanism by dividing it into three links: information announcement, information transfer and information reflection. In the second part of the thesis, I connected the general mechanism with the particularity of the securities market of China. I pointed out the problems lying in the information announcement regulation, information intermediary institutions, the behavior of listed companies and the behavior of investors. Then based on the deep-seated reasons of these problems, I proposed the ways to increase the information efficiency of the securities market. In the thesis, I attached great importance to the combination of the theorem and the practice. And Game Theory is also used in some parts.
Keywords/Search Tags:information asymmetrical, information transmission, effective market, ECMH, information announcement, information transfer, information reflection
PDF Full Text Request
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