In view of the phenomenon of stock price rising and falling in China's stock market， this paper examines the influence and transmission mechanism of managerial ability on information efficiency in capital market. Using the data of 2007-2016 years of listed companies， it is found that with the improvement of managerial ability and the integration of more corporate information into the stock price， the synchronization of stock price has decreased and the information efficiency of the capital market is improved;at the same time，when the financial situation of listed companies is better and the market competitiveness is stronger，the role of listed companies is greater. On this basis， this paper further analyses the transmission path of managerial ability affecting stock price synchroicity，the test results based on the mediation effect model show that by attracting more analysts' attention， improving the accuracy of analysts’ forecasts and reducing the dispersion of analysts' forecasts，the improvement of managerial ability can reduce the synchronization of stock price，thus improving the information efficiency of the capital market.