但在大多数交易中,资产的交易价格还是接近资产的基本价值,符合有效市场假说的预期。
But most of the traded prices of the asset are close to the fundamental value and accord with efficient market hypothesis.
结果显示:距最后交易日前7、14、28天的铝期货市场支持风险溢价假说,在风险溢价条件下具有长期效率;
The empirical tests are conducted through the cointegration method and results show that the aluminum futures market, 7,14,28 days prior to the last trading day, supports the risk premium hypothesis;
其中与美国市场不同的是,交易量与收益显著正相关,这就与流动性补偿假说相矛盾。
Contrary to the re search of US market, trading volume is positive related to returns, which is incon sist with the liquidity compensation hypothesis.
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