股价崩盘风险文献述评与未来研究展望

Stock Price Crash Risk:Literature Review and Future Research Prospects

股价崩盘作为资本市场中的一种极端现象,严重损害了投资者的财富,对资本市场的平稳健康发展也造成了极大的负面冲击。本文分别从股价崩盘风险的形成机理、股价崩盘风险的度量方法和股价崩盘风险的影响因素等角度对这一领域的相关文献进行了梳理和简要评价,并指出目前该领域的研究中尚存在的一些不足之处和未来可能的拓展方向。

As a vicious phenomenon in the capital market, stock price crash is harmful for the steady growth of investor wealth and healthy development of the capital markets. In this paper, we review the related literatures about the formation mechanism, measurement and impact factors of the stock crash risk systematically, point out the limitation of current research in this field and some possible future development directions.