Low-efficiency stock market investment theory and institutional innovation

Author: Liu Baosong
Publisher:
Publish Date: 2005-12-01
Features: In addition to significant breakthroughs and innovations in stock market investment theory, this book offers unique insights and contributions in the development and construction of the stock market, especially in institutional innovation: , the proposal of the behavioral relative efficient market hypothesis and its investment theory brings a fresh perspective, filling a gap in the field. It holds both theoretical value and practical guidance. Second, the analysis of stock market bubbles, particularly the distinction between policy-induced and market-induced bubbles, clarifies the responsibilities of the government and the market. Third, the proposal of a solution to the split-share structure issue reflects the sentiments of most investors and demonstrates the author's deep understanding of China's national conditions and public sentiment, as well as his strong ability to address major practical issues. The research findings of this book primarily focus on the behavioral relative efficient market stock investment theory, which improves and refines the theory of intrinsic investment value of stocks and the theory determining the overall price level of the Chinese stock market within this framework. These explorations hold considerable value for both theoretical and practical deepening. The author's two policy recommendations for the future development of the Chinese stock market are highly insightful: first, advocating for the implementation of strict regulatory systems, and second, suspending equity financing while replacing it with long-term convertible bonds.