红利之谜
- 网络Dividend Puzzle;puzzle of dividend
红利之谜-
自MM理论问世以来，股利政策就受到诸多学者的研究，而红利之谜也是行为金融学中的一大谜团，成为各式各样文献的研究对象。
Since the MM theory appears , many scholars began to study the dividend policy . Bonus mystery as one of behavioral finance mysteries has been studied by a variety of literatures . However , research on dividend policy is still inconclusive since now .
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然而证券市场的红利之谜、股价的过度反应和反应不足，股价的过度波动等实证研究对其形成了极大的挑战，并且，其理论基础也存在诸多的缺陷。
However empirical researches such as the riddle of bonus , the over-reaction and under-reaction of stock price , the acute fluctuation of stock price bring great challenge to it , and there are many defects on its fundamental theory , too .