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噪声交易理论研究综述 被引量:2

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摘要 尽管Kyle(1985)较早地提出了“噪声交易”的术语,但他用这一术语表达的只是流动性交易的含义。而这与我们今天理解的噪声交易具有实质性的不同,因为基于流动性的交易本质上还是一种实际的交易需求,而噪声交易则完全与实际的交易需求无关。Black(1986)在就任美国金融学会主席的演讲中首先全面地阐述了噪声交易研究的真正意义,指出噪声交易是金融市场存在的基础,
作者 贺学会
出处 《经济学动态》 CSSCI 北大核心 2005年第2期81-86,共6页 Economic Perspectives
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参考文献20

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同被引文献30

  • 1田晓林.适应性市场假说的研究进展[J].经济学动态,2005(4):97-101. 被引量:8
  • 2谭松涛.行为金融理论:基于投资者交易行为的视角[J].管理世界,2007,23(8):140-150. 被引量:21
  • 3Aggarwal, R. & G. Wu(2003), "Stock market manipulation - theory and evidence", Working Paper, University of Michigan.
  • 4Allen, F. & D. Gale ( 1992 ), "Stockprice manipulation", Review of Financial Studies 5:503 - 529.
  • 5Allen, F. & G. Gorton( 1992), "Stock - price manipulation, market microstructure and asymmetric information", European Economic Review 36 : 624 - 630.
  • 6Allen, F. L.L. & J. Mei( 2004 ), "Large investors, price manipulation, and limits to arbitrage: Anatomy of market corners", SSRN Working Papers.
  • 7Bagnoli,M. & B.L. Lipman(1996) ,"Stock price manipulation through takeoverbids,"RAND Journal of Economics 27:124- 147.
  • 8Benabou,R. & G. Laroque( 1992), "Using privileged information to manipulate markets : insiders, gurus and credibility", Quarterly Journal of Economics 105:921 - 958.
  • 9Dow,J. & G. Gorton(1997), "Stock market efficiency and economic efficiency: Is there a connection?" ,Journal of Finance 3 : 1087 - 1129.
  • 10Gilbert, C. L. ( 1996 ), "Manipulation of metalsfutures, lessons from sumitomo", SSRN Working Paper.

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