efficient markets hypothesis 中文意思是什麼
efficient markets hypothesis
解釋
有效市場假說- efficient : adj. 1. 有效的，有力的；效率高的。2. 有實力的；有能力的，有本領的；能勝任的。adv. -ly
- markets : 市場組合
- hypothesis : n. （pl. -ses ）1. 假設；假說。2. 【邏輯學】前提。
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Firstly, this paper makes clear the meaning of stock markets " efficiency through different perspectives, and then introduces the efficient market hypothesis ( emh ) and fractal market hypothesis ( fmh ). as one important part of rational anticipation theory, emh is the foundation of capital market theories, but the linear paradigm of emh does not conform to the stock market realities
其基本的研究思路是：以有效市場假說和分形市場假說為理論基礎，結合中國股票市場的現實情況（中國股票市場收益率不符合正態分佈，市場屬于分形結構） ，以分形統計學的相關方法為手段，對我國滬、深兩市的有效性進行實證檢驗，力圖對中國股票市場的有效性做出客觀真實的評價。 -
The two categories have different directions. the dividend based on traditional finance is based on efficient market hypothesis. the dividend based on behavioral finance lead the psychology into the theory to explain the dividend policy 。 the dividend policy based on emh ( the efficient markets hypothesis ) face puzzle : 1 dollar cash dividend has no difference with 1dollar capital gain, in fact the investor pay no attention to the listed firms which do not distribute dividend. why so many listed firms make the decision to distribute dividend even cash dividend is taxed by 20 % and stock dividend is exemption from tax. why the price of the stock rise when the company make the decision to distribute dividend. the dividend policy based on emh do not rationally explain the puzzle of dividend
通過尋求西方傳統和現代股利理論的研究軌跡，本文認為公司股利理論體系可以劃分為基於標準金融學的股利理論和基於行為金融學的股利理論兩大類。兩者的研究出發點和研究角度各有不同。標準金融學的股利政策理論是建立在有效市場假說和理性經濟人基礎之上的，而股利行為理論則引入社會學和心理學等學科的研究成果來闡釋和論證股利政策，從微觀個體的行為以及產生該行為的更深層次心理、社會動機來解釋、研究和預測個體心理決策程序對股利政策的影響以及如何運用心理學和金融原理來改善決策行為。 -
On the premise of efficient markets hypothesis, investors of close - end funds can ’ t earn excess risk - adjusted returns according to capm
在有效市場的前提下，基金的收益滿足資本資產定價模型（ capm ）的假設，無法獲得超額收益。 -
Recently, the latest development of tsm - - behavior finance has become a strong competitor of efficient markets hypothesis
不過，其最新發展? ?行為金融理論正對目前的主流金融市場理論? ?有效市場理論提出了強有力的挑戰。 -
In the capital asset pricing model and the efficient market hypothesis research platform, we analysed the formation mechanisms p / e, and vertical inspected the a - share markets in shanghai and shenzhen stock market investors expected changes horizontal accuracy of the test leave investors expected
在資本資產定價模型和有效市場假說這一研究平臺上，我們分析了市盈率的形成機理，並縱向考察了滬深股市a股市場的投資者預期變化，橫向檢驗假投資者預期的準確程度。
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