我国股市波动的信息不确定性与投资者行为效应研究被引量：1

在线阅读下载PDF

导出

摘要维护我国股票市场的功能与稳定,需要更多地考虑来自信息不确定性及投资者行为对股价波动的影响。应有计划、有步骤地适度扩容,进一步培育和发展我国股市的机构投资主体;货币政策应建立前瞻性的通货膨胀目标规则,并充分利用股价所包含的各类政策信息;应强化信息披露机制,建立上市公司强制分红制度,加强对投资者的信息交流与教育引导。

作者周丹郭万山

机构地区辽宁大学经济学院

出处《金融教学与研究》 2011年第1期56-62,共7页 Finance Teaching and Research

关键词股价波动信息不确定性投资者行为

分类号 F224 [经济管理—国民经济] F832.51 [经济管理—金融学]

引文网络
相关文献

参考文献24

1Campbell,John Y. ,and A. S. Kyle. Smart Money,Noise Trading and Stock Price Behavior[J]. Review of Economy, 1993,Vol. 60:1- 34.
2Hirshleifer, David. Investor Psychology and Asset Pricing [ J ]. The Journal of Finance,2001 ,Vol. 56,No. 4: 1533-1597.
3Bali,Turan,and Nusret Cakici. Idiosyncratic Volatility and the Cross Section of Expected Returns [J ]. Journal of Financial and Quantitative Analysis, 2008,43 : 29-58.
4De Long,J. Bradford,Andrei Shleifer,Lawrence H. Summers,and Robert J. Waldmann. Noise Trade Risk in Financial Markets [J]. Journal of Political Economy, 1990a,Vol. 98:703-738.
5De Long,J. Bradford,Andrei Shleifer,Lawrence H. Summers,and Robert J. Waldmann. Positive Feedback Investment Strategies and Destabilizing Rational Speculation[J ]. Journal of Finance, 1990b, Vol. 45 : 379-39.
6Odean,T. Volume, Volatility,Price and Profit When All Traders are Above Average[J]. Journal of Finance, 1998,53:1887-1934.
7Lux,T. Herd Behavior,Bubbles and Crashes[J]. The Economic Journal, 1995,105 : 881-896.
8Stickel,Scott E. Common Stock Returns Surrounding Earnings Forecast Revisions : More Puzzling Evidence [J ]. The Accounting Review, 1991 ,Vol. 66,No. 2:402-416.
9Chan,Louis K. C. ,Narasimhan Jegadeesh,Josef Lakonishok. Momentum Strategies [ J ]. The Journal of Finance, 1996, Vol. 51, No. 5: 1681-1713.
10Gleason,Cristi A. ,Charles M. C. Lee. Analyst Forecast Revisions and Market Price Discovery[J]. The Accounting Review,2003,Vol. 78,No. 1 : 193-225.

二级参考文献75

1汪炜,周宇.中国股市“规模效应”和“时间效应”的实证分析——以上海股票市场为例[J].经济研究,2002,37(10):16-21. 被引量：94
2刘煜辉熊鹏.《资产流动性、投资者情绪与中国封闭式基金之谜》[A]..第三届中国青年经济学者论坛论文集[C].中山大学出版社,2003.第439-453页.
3洪永淼成思危.[D].Cornell University & Tsinghua University,2003.
4安德瑞·史莱佛(AndrelShleifer).《并非有效的市场——行为金融学导论》[M].中国人民大学出版社,2003..
5Brauer, G A , 1993. Investor Sentiment and The Closed-end Fund Puzzle: A 7 Percent solution. Journal of Financial Services Research 7.
6Brown, G W , 1999. Volatility, Sentiment, and Noise Traders. Financial Analysts Journal 55(2) ,82-90.
7Brown, G W , Cliff, M T , 2004. Investor Sentiment and the Near-term Stock Market. Journal of Empirical Finance 11,1-27.
8De Long, J B , Shleifer, A ,Summers, L G , Waldmann, R J , 1990. Noese Trader Risk in Financial Markets. Journal of Political Economy 98(4), 703-738.
9Engle R F , Ng V K, 1993, Measuring and Testing The Impact of News on Volatility, Journal of Fiance,48,1749-1778.
10Fama, E F , 1965. The Behavior of Stock Market Prices. Journal of Business 38(1), 34-105.