上海证券市场资本资产定价的实证研究

Empirical research on capital asset pricing in Shanghai Stock Market

资本资产的定价,尤其是资本资产收益率的确定,是金融理论研究过程中的核心问题之一。文章通过对上海证券市场资本资产定价的实证研究,表明中国证券市场还远未形成完整、有效和规范的风险-收益权衡的投资机制。

Pricing of capital assets, especially determination of the rate of capital returns is one of the core issues in the study of the theory of finance. Empirical research on capital asset pricing in Shanghai Stock Market is carried out based on the capital asset pricing model, and it is indicated that China stock markets have not formed an integrated, effective and standard risk-return mechanism so far.