| 基于行为金融的我国股市动量效应成因研究 |
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| 引用本文： | 王向阳, 韩卫东,. 基于行为金融的我国股市动量效应成因研究[J]. 华东经济管理, 2007, 21(1): 147-150 |
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| 作者姓名： | 王向阳 韩卫东 |
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| 作者单位： | 华中科技大学,管理学院,武汉,430074;华中科技大学,管理学院,武汉,430074 |
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| 摘 要： | 传统金融理论认为动量效应来自于对风险的补偿，但是缺乏实证方面的证据，行为金融理论认为动量效应来自投资者行为，跟投资者的心理及行为因素有关。文章从行为金融的角度，结合我国股票市场的总体特征，通过分析市场参与者结构以及各自的心理及行为特点，对我国股票市场存在的短期动量效应的成因进行了探讨。
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| 关 键 词： | 动量效应 股票市场 行为金融 |
| 文章编号： | 1007-5097(2007)01-0147-04 |
| 修稿时间： | 2006-05-23 |
Study on the Causes of Momentum Effect in Chinese Stock Market based on the Behavioral Finance |
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| WANG Xiang-yang; HANG Wei-dong. Study on the Causes of Momentum Effect in Chinese Stock Market based on the Behavioral Finance[J]. East China Economic Management, 2007, 21(1): 147-150 |
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| Authors: | WANG Xiang-yang HANG Wei-dong |
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| Affiliation: | College of Management; Huazhong University of Science and Technology; Wuhan 430074; China |
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| Abstract: | Traditional finance theory holds it originates from the compensation of risk,but lacks empirical evidence.Behavioral finance theory holds that the momentum effect results from the behavior of investor related to the factors of investors' psychology.From the point of view of the behavioral finance,this paper analyzes the general features of Chinese stock market and the structure of participants and their respective features of psychology and behaviors,so as to probe into the causes of formation of short-term... |
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| Keywords: | marketing enterprise marketing manager orientation |
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