行为金融及其投资策略
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外国经济与管理 2002 年 第 24 卷第 02 期, 页码：23 - 27
摘要
参考文献
摘要
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。本文在对投资者心理、行为特征以及认知偏差进行分析的基础上 ,从投资需要的角度出发 ,着重对行为金融的主要投资策略———反向投资策略、动量交易策略以及成本平均和时间分散化策略进行了详细而深入的探讨
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[2]K .Daniel,D .HirshleiferandA .Subrahmanyam.ATheoryofOverconfidence,SelfAttribution,andSecurityMarketUnder andOverre action[R].Unpublishedworkingpaper,presentedattheNBER SageworkshoponBehavioralEconomics,Camberidge,MA .1997.
[3]Fama,E ..MarketEfficiency,LongTermReturns,andBehavioralFinance[J].JournalofFinancialEconomics,1998,49:283-306.
[4]KennethL .FisherandMeirStatman.ABehavioralFrameworkforTimeDiversification[J].FinancialAnalystsJournal,1999,55(3):88-97.
[5]Lakonishok,J.,Shleifer,A .,&Vishny,R ..ContrarianInvestment,ExtrapolationandRisk[J].JournalofFinance,1994,49:1541-1578.
[6]Lo,AndrewW .,andA .CraigMacKinlay.WhenAreContrarianProfitsDuetoStockMarketOverreaction?[J]ReviewofFinancialStudies,1990,(3):175-205.
[7]Shefrin,H .andM .Statman.BehavioralPortfolioTheory[R].Unpublishedpaper,SantaClalaUniversity,1974.
[8]Statman,M ..BehavioralFrameworkforDollarCostAveraging[J].JournalofPortfolioManagement,1995,22(1):70-78.
引用本文
阳建伟. 行为金融及其投资策略[J]. 外国经济与管理, 2002, 24(2): 23–27.
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