行为金融理论及行为金融投资策略

行为金融理论是自 2 0世纪 80年代兴起的金融学说。目前这一学说正是西方国家金融研究和实践的前沿领域 ,同时也是热门领域。行为金融理论有四个重要分支 :期望理论、反应过度和反应不足理论、噪声交易理论及固锚理论。主要的投资策略是 :反向投资策略、动量交易策略、成本平均策略和时间分散化策略以及小盘股投资策略。

Behaviourai Financial Theory and Its Strategy of Investment

The behavioural financial theory was established in 1980s.At present the theory lies in the front of financial research and practice of the Western countries and meanwhile is one of our hot topics.The behavioural financial theory contains four main branches:expected theory,over-reaction and weak-reaction theory,noise-trade theory and fixed-anchor theory;Its main strategies of investment:opposite-direction strategy of investment,dynamic-trade strategey,cost-average strategy,distracted trategy and other strategies of small stock.