论投资者羊群效应成因与理性界碑

The Causes of Herding Behavior on the Stock Investment and the Rational Boundary Marker

羊群效应是股票投资中常见的现象,非理性羊群效应不仅影响了投资者正确的投资理念,还不利于证券市场的稳定健康发展.理性界碑是判断股票市场严重非理性程度的基准,为投资者在高风险的市场中提供了理性决策的尺度.通过建立相关指标构建理性界碑,并在分析羊群效应产生的因素的基础上提出减少投资者羊群效应的相关政策措施.

Herding behavior is a common phenomenon in stock investment.Irrational Herding behavior not only goes against the formation of the investors establishing a correct concept of investment,but also the stable and healthy development of securities markets.Rational boundary marker is a benchmarking in judging a serious irrational level of the stock market and helps the investors with making rational decision in high-risk markets.Basing on building rational boundary,this paper analyzed the causing herding behavior factors and put forward some countermeasures to reduce the phenomenon.