摘要
新闻媒体对证券市场的影响越来越大,它会通过影响投资者的行为而影响资产价格。由于我国证券市场并不是强有效市场,加之投资者自身的缺陷,比如投资者有限理性及投资者心理等因素,媒体就可能影响投资者的投资行为。新闻的准确性及来源媒体的权威性、新闻的发布时段以及媒体报道新闻的频率和持久性都会对投资者的行为产生影响。认识到媒体对投资者行为的不同影响,有利于投资者更好地把握新闻,进行理性的投资。
News media has played an important role in the investment of securities. It will produce an effect on the behaviors of investors and therefore influence the assets price. Because of the invalid China＇s securities markets and the imperfection of investors, such as bounded rational and the psychology of investors, news media may influence the behaviors of investors. The accuracy of news, media authority, news releasing time, rate of its publishment duration may influence investors. To recognize the effect of media will help investors to invest rationally, this paper will be based on the assumption of bounded rational investors and discuss the effect of news media and finally put forward some proposals.
出处
《金融教育研究》
2012年第5期37-43,共7页
Research of Finance and Education
关键词
媒体
投资者行为
有限理性
media
behaviors of investors
bounded rationality
