By the method of case study, we test whether Chinese stock market overreacts on the basis of recent discoveries as well as the data of stock market trading in CSMAR.

• 本文在国内外相关研究成果的基础上，采用事件研究法，利用中国股票市场交易数据库（CSMAR）检验了中国股票市场是否存在过度反应现象。