股指期货对现货市场信息效率影响的实证研究
The Impacts of Stock Index Futures on Informational Efficiency of Cash Markets:An Empirical Study
作者：缪晓波;冯用富;刘学;王娜;李瑛;
Author：
收稿日期： 年卷（期）页码：2008,(06):-129-135
期刊名称：四川大学学报(哲学社会科学版)
Journal Name：Journal of Sichuan University (Social Science Edition）
关键字：股指期货;现货市场;信息效率;近似熵
Key words：
基金项目：教育部人文社会科学研究基金重点研究基地重大研究项目“过渡期后中国出口贸易摩擦预警研究”(05JJD790)
中文摘要
成熟股票市场的信息效率在股指期货刚推出时(第一年)的信息效率或提高或降低,而新兴市场普遍降低;随着股指期货的发展及逐渐成熟与稳定,成熟市场和新兴市场的信息效率均随着股指期货的不同发展阶段呈现"先下降后升高"的趋势,表明从长期来看,股指期货对现货市场具有促进作用,两个市场最终趋于长期的动态均衡。
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