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中文摘要：
以A＋H股上市公司为样本，运用加权价格贡献法比较了A股和H股开盘阶段对隔夜信息的揭示效率。研究结果发现，无论是A股还是H股，公司规模越大，开盘阶段的信息揭示效率越高；两市场开放度、成熟度、市场结构和交易机制的区别导致H股开盘阶段的信息揭示效率高于A股。
英文摘要：
Based on the data of A＆H cross-listing firms, this paper compared the efficiency of opening period to reveal overnight information for A shares and H shares using the method of weighted prices contribution. It was found that for both A and H shares, the bigger the company was, the more efficient the opening period was in information revelation. Moreover, opening period was more information efficient for H shares than A shares due to the difference between two markets in market maturity, opening degree, market structure and trading mechanism.
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