关于股市价格泡沫检验方法的文献综述

Literature Review on the Stock Price Bubble Test Method

在金融市场快速发展的过程中,股票价格呈现出大幅波动的特点,大量的文献分析表明股票价格的过度波动并不完全是由基本面引起,因此许多学者引入了泡沫来解释股票价格的过度波动现象。通过梳理国内外对股票价格泡沫的研究,总结对比已有研究方法的特点并指出相应的不足之处,在此基础上展望了股市价格泡沫研究进一步的发展方向。

In the process of rapid development in financial markets,stock price has the characteristics of sharply volatility. Extensive literature showed that excessive volatility in stock price is not entirely caused by the fundamentals.So many scholars introduced bubble principle to explain the phenomenon of the excessive volatility about stock price.Combining the domestic and the international researches on stock price bubble and comparing the existed methods,we make a summary of them and point out the corresponding deficiencies. On the basis,we outlook the stock price bubbles for further development.