行为金融学视角下股票市场个人投资者的投资行为分析

Analysis of investment behavior of individual investors in the stock market from the perspective of behavioral finance

传统金融理论认为在有效市场下,投资者是理性的。在现实的投资环境中存在着各种心理行为偏差,现实的股票市场投资环境中个人投资者的投资行为与股票市场的健康发展紧密相关。传统金融学不能很好地解释股票市场中存在的异象,文章从行为金融学的角度出发,对投资者的心理偏差以及股票投资策略进行分析,并从投资者及股票市场发展的角度提出相应的投资策略建议。

Traditional financial theory assumes that investors are rational under an efficient market.In the real investment environment there are various psychological behavioral deviations,and the investment behavior of individual investors in the real stock market investment environment is closely related to the healthy development of the stock market.Traditional finance cannot well explain the anomalies existing in the stock market.From the perspective of behavioral finance,the psychological deviations of investors and stock investment strategies are analyzed,and corresponding investment strategies are suggested from the perspective of investors and stock market development.