艺术金融理论研究进展

Research Progress on Art Finance

伴随着经济发展和物质财富的积聚,艺术品日益展现出其作为资产和投资品的特征,艺术金融逐渐成为金融学的一个新兴领域。从国外艺术金融研究领域近50年的经典和前沿文献来看,艺术品展现出的特殊性和金融属性推动学术界不断探索艺术品价格形成的经济学逻辑、艺术品估价、风险收益特征以及其与传统金融资产的关系等。本文从微观角度阐述了艺术品价值决定的理论基础,并力图指出现有研究的不足,提出未来我国艺术金融理论研究的建议与展望。

With the development of the economy and the accumulation of material wealth,art increasingly exhibits its characteristics as assets and investment goods.Art finance has gradually become an emerging field of finance.This paper selects classical and frontier literature in the field of art finance research in the past 50 years.It analyzes the economic logic of art price formation,art valuation,the risk and return characteristics of art,and the relationship between art and the traditional financial assets from the perspective of the particularity of art and the financial attribute of art.This paper expounds on the theoretical basis of determining the value of artworks from a micro perspective,and tries to point out the shortcomings of the existing research and provide suggestions for future research on the theory of art finance in China.