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Empirical Analysis of Accounting Information Disclosure and Semi-Strong Effectiveness of China's Stock Market

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DOI: 10.25236/mfssr.2019.131


Zhang Xiuhua

Corresponding Author

Zhang Xiuhua


Accounting information disclosure system, as an important regulatory measure in the stock market, is one of the three guiding principles of the stock market. Stock market is the main capital market of listed companies and an important place for companies to allocate resources. Effective market hypothesis essentially studies the dynamic price behavior in competition under uncertainty from the zero profit state under the traditional deterministic model. In the semi-strong effective market, stock market information and other disclosures that should be disclosed publicly do not produce a price effect. In a strong and efficient market, all relevant information is known to have no price effect. The modern enterprise system is based on a sound corporate legal person system and is guaranteed by a limited liability system. This paper mainly analyzes the current situation and reasons of accounting information disclosure of listed companies in China's current stock market from the perspective of the effectiveness of stock market information transmission.


Accounting, Information Disclosure, Stock Market