| 我国开放式基金启发式偏差行为及其对市场影响分析 |
| |
| 引用本文： | 李学峰,于翠珍,茅勇峰.我国开放式基金启发式偏差行为及其对市场影响分析[J].财贸研究,2008,19(4). |
| |
| 作者姓名： | 李学峰 于翠珍 茅勇峰 |
| |
| 作者单位： | 南开大学,金融学系,天津,300071 |
| |
| 基金项目： | 国家社会科学基金,南开大学校科研和教改项目,天津市社会科学研究规划项目,韩国高等教育财团与南开大学亚洲研究中心资助研究项目 |
| |
| 摘 要： | 启发式偏差是指投资者往往依据"经验法则"来进行投资决策,是行为金融学所揭示的一种重要的投资者非理性行为,该行为最终会导致金融资产的错误定价和金融资源的不合理配置。我国的开放式基金在投资心理上具有锚定启发式偏差,并且此种投资心理会对当期市场走势产生显著的正向影响,而对未来市场走势产生显著的负向影响。开放式基金的这种非理性投资心理所引致的投资行为产生的短期影响大于其在中长期产生的影响。
|
| 关 键 词： | 开放式基金 锚定启发式偏差 市场影响 |
The Analysis of Heuristic Deviant Behavior of Open-end Fund and Its Impact on Market |
| |
| LI Xue-feng,YU Cui-zhen,MAO Yong-feng.The Analysis of Heuristic Deviant Behavior of Open-end Fund and Its Impact on Market[J].Finance and Trade Research,2008,19(4). |
| |
| Authors: | LI Xue-feng YU Cui-zhen MAO Yong-feng |
| |
| Abstract: | Heuristic Deviant means that investors usually make decisions under the rule of thumb,and is an investors' irrational behavior revealed by Behavioral Finance.Such behavior causes wrong pricing of the financial assets and irrational allocation of the financial resources.The investment of open-end funds psychologically have anchoring heuristic deviation,and such psychological investments have positive impact on current market trend and an obvious negative impact on future market trend.Besides,the short-term impact caused by such non-rational psychological investment is greater than medium and long-term impact. |
| |
| Keywords: | open-end fund anchoring heuristics bias influence on market |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
|
