Efficiency of stock market refers to one that the price of stocks in market responses to the new information. It indicates the mature degree of stock market.
股票市场的效率性指的是股票市场中股票价格对新信息的反应效率，它是股票市场成熟程度的表现。
Two additional findings are: 1 the key to stock floatation lies in the relative proportion of release price to the expected increase in efficiency after release.
同时我们发现：(1)释股的关键在于释出价格与释出后期待的效率增进间的相对大小，这两因素间的抵换关系使得在释股过程得以存在一个最释比例。
The conclusion is that insider-trading decreases the efficiency of stock price and the key of regulation is to urge the symmetry distribution of information between the participants of the market.
研究结果表明内幕交易降低了证券价格的有效性，监管的关键在于促使信息在市场参与者之间的均匀分布。
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