摘要
本文从股票价格变动的随机游走理论入手,通过频数分布和序列相关检验给出了我国股票价格变动的特点,发现股票价格序列所具有的正态特征并不显著。文章最后指出我国股市的停板制度影响了我国股市的有效性水平。
This paper is based upon the random walk theory of change of stock prices. Through frequency distribution and serial correlation, we test the distribution of change of stock prices, we find that the normality of stock prices is not very outstanding. At the end of this paper, we point out that the trading halt system influences the stock market efficiency.
出处
《财务与金融》
2014年第1期33-37,共5页
Accounting and Finance
关键词
正态分布
频数分布
序列相关
Normal Distribution
Frequency Distribution
Serial Correlation
