| 过度自信理论及其对金融市场的影响 |
| |
| 引用本文： | 薛斐.过度自信理论及其对金融市场的影响[J].当代经济管理,2005,27(3):30-33. |
| |
| 作者姓名： | 薛斐 |
| |
| 作者单位： | 复旦大学,经济学院金融研究院,上海,200433 |
| |
| 摘 要： | 本文介绍了投资者过度自信理论,说明了导致投资者过度自信的原因,分析投资者过度自信对金融市场交易量、市场效率、波动性和投资者预期效用的影响,指出了由于投资者的过度自信特征导致了市场的反应过度和反应不足。投资者的过度自信特征具有消极作用,也具有积极的作用。
|
| 关 键 词： | 行为金融 过度自信 交易量 波动性 反应过度 反应不足 |
| 文章编号： | 1673-0461(2005)03-0030-04 |
The Theory of Overconfidence and Its Influence on Financial Markets |
| |
| XUE Fei.The Theory of Overconfidence and Its Influence on Financial Markets[J].Contemporary Economic Management,2005,27(3):30-33. |
| |
| Authors: | XUE Fei |
| |
| Abstract: | The paper review the causes of overconfidence and analyze the investor's characters of overconfidence in financial market. Overconfidence affects financial markets on trading volume, volatility, market efficiency, and expected utilities. It will cause overreaction and underreaction. But overconfidence isn't always negative. |
| |
| Keywords: | behavioral finance overconfidence volume volatility overreaction underreaction |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
|
