摘要
我国权证市场目前以个人投资者为主,心态和行为都不成熟,目的不纯,出现了大量行为异象,如:羊群效应;锚定效应;处置效应;恐惧和贪恋等。根据行为金融学理论,我国投资者在投资决策时,由于有限理性、情绪动机等客观和主观原因,广泛存在认知偏差和情绪偏差,必然出现行为异象。
The Chinese warrants market is on primary stage,with small size,simple personal investor,over-investment and many behavior anomalies such as herd,disposition,and anchoring effect,gambling behavior and so on.This phenomenon is not explained with traditional financial theory but can illustrated in detail with behavioral finance theory.Due to bounded rationality,emotion and motivation etc.,there are many cognitive and emotional bias with investments.
出处
《特区经济》
北大核心
2011年第3期112-113,共2页
Special Zone Economy
基金
湖北省教育厅人文社科项目(编号:2007d379)资助
关键词
股票权证
行为异象
行为金融
认知偏差
情绪偏差
Warrants
Behavior Anomaly
Behavioral finance
cognitive bias
emotional bias
