And the empirical study proves that our stock market is not semi-strong efficient because investors can gain abnormal returns with publicly information.

同时实证结果表明市场尚未达到半强式有效，投资者可以利用公开的信息获得超额收益。

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And the corresponding different information sets, the market will be divided into three categories: the weak-effective market, semi-strong efficient market and strong market effective.

并且人们根据对应的信息集的不同，将有效市场分为三类：弱式有效市场、半强式有效市场和强式有效市场。

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According to the levels of the information the price reflects, Fama classified the efficient market into three types: weak efficient market, semi-strong efficient market and strong efficient market.

法玛在有效市场假说中根据价格所反映信息的层次将有效市场分为强有效市场、次强有效市场和弱有效市场。

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