An Empirical Study on the Validity of Chinese Stock Market——A Test Based on Variance Ratio
Xiao Wang · Economic Survey · 2010
The authors test the validity of Chinese stock market with variance ratio test.The test with Shanghai and Shenzhen 300 Index which covers 60% of the stock market of our country and the past return of Jinxin Fund shows that the stock market of our country is weakly valid in the short run and basically invalid in the middle and long run.