投资银行与证券市场效率研究

Studies on Investment Bank and Efficiency of Stock Market

投资银行是西方发达国家金融体系中的重要组成部分，与之相比，我国投资银行业的发展还处于初级阶段。本文从中西方投资银行业的发展现状入手，对证券市场效率进行了理性分析，论述了证券市场效率的具体衡量标准应从宏观效率与微观效率角度加以概括，并据此综合考察了投资银行与证券市场的关系及其对证券．市场效率的贡献。在此基础上，提出了为提高我国证券市场效率而发展投资银行的若干策略。

Investment Bank is one of the most important composes in the developed countries. Compared with that, it still stays at the beginning stage in China. This thesis beginswith the present situation of development of China and western investment banks, it discusses the concrete yardstick of the effciency of the stock market, and based on this standard, it comprehensively examines the relationship between the development of investment bank and efficiency of the stock market and its devotion to the efficiency of the stock market. Finally, the thesis puts forward some tactics to improve our country's investment banks.