| 有效市场假设和行为金融理论分析 |
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| 引用本文： | 刘华. 有效市场假设和行为金融理论分析[J]. 西北第二民族学院学报, 2004, 0(2): 58-63 |
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| 作者姓名： | 刘华 |
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| 作者单位： | 复旦大学经济学院 上海200433 |
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| 摘 要： | 证券市场异象对有效市场假设(EMH)的冲击,导致其权威地位动摇,近些年用行为金融理论分析、解释证券市场异象已成为金融研究领域的热门。本文在全面分析EMH理论的基础上,通过列举证券市场异象的表现,解释其成因,探讨行为金融的理论基础、内容,并对投资策略作适当介绍。
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| 关 键 词： | EMH 证券市场异象 BFT 理性投资者 噪声交易 期望理论 投资策略 |
| 文章编号： | 1008-2883(2004)02-0058-06 |
| 修稿时间： | 2004-02-12 |
Analysis on Efficient Market Hypothesis and Behavioral Finance Theory |
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| LIU Hua. Analysis on Efficient Market Hypothesis and Behavioral Finance Theory[J]. Journal of The Second Northwest Institute For Ethnic Minorities(Philosophy and Social Science), 2004, 0(2): 58-63 |
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| Authors: | LIU Hua |
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| Abstract: | Anomalies in security market are shock to Efficient Market Hypothesis, which directly weaken the EMH's authority. In recent years,explaining and analyzing the anomalies in security market by Behavioral Finance Theory has been the hot issue in the area of finance research. This paper,based on the full-scale,analyzes the foundation of EMH theory by listing various anomalies in security markets and interpreting its reasons of form . Furthermore, it also researches the theory of foundation and contents of Behavioral Finance Theory. |
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| Keywords: | EMH BFT anomalies in security market prospect theory noise trade rational investor |
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