| 基于行为金融的投资收益率差异研究 |
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| 引用本文： | 周孝华,张文杰,刘星.基于行为金融的投资收益率差异研究[J].软科学,2007,21(4):9-12. |
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| 作者姓名： | 周孝华 张文杰 刘星 |
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| 作者单位： | 重庆大学,经济与工商管理学院,重庆,400044 |
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| 基金项目： | 国家自然科学基金;国家自然科学基金 |
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| 摘 要： | 运用行为金融理论中的噪音交易模型,在两种不同的发行方式下,对我国股票市场上机构投资者和普通投资者的投资效率进行研究后发现:机构投资者的投资效率并不总是高于普通投资者;相反,普通投资者的投资效率可以远远高于机构投资者,保持适度乐观的情绪是获得高投资效率的必要条件。
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| 关 键 词： | 初次公开发行 收益率差异 乐观情绪 行为金融 |
| 文章编号： | 1001-8409（2007）04-0009-04 |
| 修稿时间： | 2007-01-23 |
Research on the Different Investment-earning Rate Based on Behavioral Finance |
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| ZHOU Xiao-hua,ZHANG Wen-jie,LIU Xing.Research on the Different Investment-earning Rate Based on Behavioral Finance[J].Soft Science,2007,21(4):9-12. |
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| Authors: | ZHOU Xiao-hua ZHANG Wen-jie LIU Xing |
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| Institution: | School of Economics and Business Administration, Chongqing University, Chongqing 400044 |
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| Abstract: | This paper has researched the investment-earning rate of two types of investors in two kinds of offering methods based on the behavioral finance theory's noise model.It was found that institutional investors' earning rate is not always higher than that of retail investors.On the contrary,if the retail investors want to earn more than institutional investors,they must keep moderate optimism. |
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| Keywords: | information technology diffusion routinization habit individual |
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