ABSTRACT
This study has extensively tested the random walk hypothesis, the anomalies of seasonalities and the reaction of stock returns (in other world, stock prices) to the announcements of publication information regarding zero dividends, cash dividends, bonus and rights issues. Empirical results indicate that China’s Stock Market is neither semi-strong nor weak form efficient. This chapter provides a general summary drawing together the key findings of the study. Furthermore, this chapter suggests possible causes of the inefficiency and offers some possible measures for improving the efficiency of China’s Stock Market. The limitations of this study highlight the necessity of future study with more abundant data and more advanced methodology.
