| 机构投资者羊群行为动因分析——2009年数据实证 |
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| 引用本文： | 马才华,陈暑楠. 机构投资者羊群行为动因分析——2009年数据实证[J]. 价值工程, 2010, 29(20): 19-21 |
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| 作者姓名： | 马才华 陈暑楠 |
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| 作者单位： | 江苏科技大学经济管理学院,镇江,212003;江苏科技大学经济管理学院,镇江,212003 |
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| 摘 要： | 羊群行为作为机构投资者的一种普遍非理性行为,对我国的股票市场产生重大影响。羊群行为对短期股价波动会产生较大的影响,同时在一定程度上破坏股价的长期稳定。本文首先对羊群行为进行界定,然后旨在通过数据对证券投资基金的羊群行为进行实证,并分析其主要动因,最后针对其成因提出弱化机构投资者羊群行为的措施。
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| 关 键 词： | 机构投资者 羊群行为 实证研究 |
To Study the Motivation on Herd Behavior of Institutional Investors: 2009 Data Empirical |
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| Ma Caihua,Chen Shunan. To Study the Motivation on Herd Behavior of Institutional Investors: 2009 Data Empirical[J]. Value Engineering, 2010, 29(20): 19-21 |
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| Authors: | Ma Caihua Chen Shunan |
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| Affiliation: | Ma Caihua; Chen Shu＇nan(School of Economy and Management,Jiangsu University of Science and Technology,Zhenjiang 212003,China) |
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| Abstract: | Herd behavior is a common phenomenon for the institutional investors, and it has great effect on our stock markets. Herd behavior not only has great effect on the short-term price volatility, but also damages the long-term price stability to some extent. Firstly, this article discusses different definitions of herd behavior. Secondly, this article makes an empirical study of herd behavior by the data of securities investment funds. Thirdly, this article analyzes the reasons of herd behavior. At last, some measures should be taken to weaken herd behavior of institutional investors. |
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| Keywords: | institutional investors herd behavior empirical study |
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