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行为金融理论及其评述 被引量：7

A Review of Behavior Finance Theory
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摘要 与传统意义上的经典现代金融理论的理性分析框架相比,行为金融学更注重人的实际心理和经济行为,从而为金融决策提供更现实的指导。本文将评述行为金融学的基本理论及其在投融资决策中的应用,行为金融学的运用将为理解中国资本市场提供一个很好的视角。 Compared to analytical frame of traditional classic finance theories, behavior finance pays more attention to the emotional and behavioral characteristics of an individual and economic behavior. Consequently it provides a more realistic guidance for finance decision. The paper reviews the basic theories of behavior finance and its application in enterprise financing and investment, and presents a valuable perspective for understanding the Chinese capital market.
作者 陈收 杨宽 黄果
机构地区 湖南大学工商管理学院
出处 《管理评论》 2003年第10期48-52,共5页 Management Review
关键词 行为金融理论 资本市场 动量效应 价值异象 投资策略
分类号 F830 [经济管理—金融学]
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参考文献8

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同被引文献48

  • 1杨春鹏,吴冲锋.展望理论、投机交易和共同知识假设[J].管理评论,2004,16(8):3-7. 被引量：6
  • 2杨春鹏,吴冲锋.基准收益率与证券投资的认知风险[J].管理评论,2004,16(12):37-40. 被引量：3
  • 3Barberis,Nicholas and Huang.Mental accounting,loss aversion,and individual stock returns[J].Journal of Finance,2001,1247-1292.
  • 4Daniel,k.,Hirshleifer D.,and A.Subrahmanyam.Overconfidence,Arbitrage and Equilibrium Asset Pricing[J].Journal of Finance,2001,921-965.
  • 5Nicholas Barberis and Richard Thaler.A Survey of Behavioral Finance[J].NBER working paper series,2002,(9).
  • 6DeBondt,WernerF.M.Investor Psychology and the Dynamics of Security Price in Behavioral Finance and Decision Theory in Investment Management[J].Association for Ivestment Management and Research,1998,(8).
  • 7Barberis N,Thaler R. A survey of behavior finance[R]. NBER working paper, 2001, No.9222.
  • 8Barberis N, Shleifer A, Vishny R. A model of investor sentiment[J]. Journal of Financial Economics, 1998,49: 307 - 343.
  • 9Campbell J Y. Asset pricing at the millennium[J], Journal of Finance, 55:1515 - 1567.
  • 10Daniel K D, Hirshleifer, Subrahmanyam A. Investor psychology and security market under-and overreactions[J]. Journal of Finance, 1998,53: 1839 - 1885.

引证文献7

二级引证文献36

管理评论
2003年 第10期

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