中文摘要：

以7个阎家的综合指数（包括我国上证指数与深成指数）为样本，以EGARCH模型系统研究我国股票市场上价格波动的非对称性以及这种非对称性与成熟市场上的差别。结果发现，与成熟的股票市场相比，我国股票市场上价格波动的非对称较弱，这可能是由于我国股票市场的特殊结构与贷款利率缺乏刚性所造成的。

英文摘要：

This paper systemmatically studies the asymmetry of the price variability of Chinese stock markets and contrasts it with those variabilities on mature markets, with composite indexes from seven countries （including Shanghai Composite and Shenzhen Component） as samples, and EGARCH models as the research tool. The research findings are that, compared with mature stock markets, the asymmetry of the price variability of the Chinese stock markets is rather weak, which might result from the unique structure of the Chinese stock markets and the lack of rigidity of the loan interest.