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在以完善的市场制度为依托、市场机制充分发挥作用、经济当事人具有贝叶斯理性并能无障碍获得市场信息条件下,股票市场能够实现均衡并发挥其经济功能,这是均衡股票市场理论的基本内容。依据均衡股票市场理论,要解决我国股票市场的非均衡问题,除全面实施股权分置改革外,还必须改善股票市场的宏观环境、微观基础和培育理性的投资者。
Under the condition of a perfect market system, the market mechanism plays its full role. Under the condition that the economic parties have Bayesian rationality and the market information can be accessed without obstacles, the stock market can achieve the equilibrium and exert its economic functions. This is the theory of equilibrium stock market Fundamental contents. According to the theory of balanced stock market, in order to solve the unbalanced stock market in our country, we must improve the macroeconomic environment, micro-foundation and rational investors of the stock market in addition to the full implementation of the share-trading reform.