摘要
通过阐述有效市场假说的内在逻辑,揭示了套利行为仍是现代有效市场的一个决定性要素,而卖空机制正是通过便利套利行为的运作而成为有效资本市场上的一个必不可少的规则,卖空机制因而也成为中国资本市场发展的必然选择。
The essay describes the intrinsic logic of the Efficient Market Hypothesis and points out that arbitrage is a critical element of the modern efficient market. The short sales mechanism has become an indispensable rule of the efficient capital market by the way of facilitating arbitrage activity. Therefore, the short sales mechanism is also indispensable for the development of Chinese capital market.
出处
《河南社会科学》
北大核心
2005年第5期64-66,共3页
Henan Social Sciences
关键词
卖空机制
资本市场
套利
short sales mechanism
capital market
arbitrage