research results about market efficiency are emerging endlessly following fama's theory of efficient market hypothesis ( emh).

there are two major kinds of methods to test emh in futures markets: random walk test and cointegration test.

市场有效性问题基本上是一个实证问题。有关期货市场有效性的实证研究的成果主要运用了两大类检验方法：随机游走检验和协整检验。

emh is the base of modern finance theory; it has made great success in the past 10 years since its formation.

20世纪60年代末问世的有效市场假设（EMH）理论是现代金融理论的基础，在开始形成的10年中，获得了巨大的成功。

in terms of strong form efficiency, the emh asserts that security prices always fully reflect all available information.

依据强形式有效性，EMH坚持安全价格总是完全反映所有的信息。

emh is only a special phenomenon.

EMH仅仅是分形分布族中的一种特殊情形。

the emh and the disputation about it form the foundation of all kinds of investment strategy.

有效市场理论及其争论是一切投资策略理论的基石。

chapter two: the relative efficiency concept of foreign exchange market and the comparison of emh and fmh.

第二章：外汇市场相对效率及EMH与FMH市场解释能力之比较。

as a relative study of emh "size effect" has been controversial in academe and business environment.

在市场有效性领域的相关研究中，规模效应在学术界和业界一直存在争论。

emh by the failure to include long-term memory is one of the important characteristics of fmh.

EMH所未能包含的长期记忆性，就是FMH的重要特征之一。

efficient market hypothesis ( emh) has become an important foundation of modern financial theory since it was founded.

有效市场假说（EMH）自诞生之日起，就成为现代金融理论的一个重要基石。

the emh has two components that i call the price is right and no free lunch.

该假说由两部分组成，我分别称之为价格总是正确的和没有免费的午餐。

efficient market hypothesis is the base of modern finance theory. many financial models are proposed based on emh.

有效市场理论是现代金融学的基础，在这个基础上诞生了很多重要的金融模型。

emh: behavioral finance versus modern financial theory

有效市场假说：行为金融理论和现代金融理论

market manipulation and its means for the test of emh

市场操纵与证券市场弱有效性检验

the mh and emh method for strong nonlinear dynamic systems

求强非线性动力系统周期解的MH法和EMH法

the controversy between emh and behavioral finance

有效市场假说与行为金融学的争论

then this part introduces the emh theory.

然后本章介绍有效市场假说理论。

moonlight shines on the dark mirror-like surface of a mysterious lake.

月光洒在神秘的漆黑如镜般的水面上。

future is a dark mirror . anyone who look into it will see nothing but a old and worried face.

未来是面晦暗的镜子，任何试图向里面窥视的人只能看到一张苍老而焦虑的脸的模糊轮廓。

use hydraulic turnover plow turn up soil and make the ground more flat.

利用液压翻转犁翻地，是地面更加平整。

germination test and pot experiment have been used to study the effect of phthalate esters ( dbp, dehp) on 15 crops.

采用发芽试验和温室盆试验等方法，研究了酞酸酯（DBP、DEHP）对番茄等12种蔬菜以及水稻、小麦和油菜的影响。