行为金融学

IPO折价现象的行为金融学解释

The Explanation of IPO Discount in Behavioral Finance

信息经济学以及行为金融学的出现和发展拓展了IPO定价的研究视角，使声誉得以进入研究者视线中。

The emergence and development of information economics and behavioral finance expanded the IPO pricing perspective , the reputation have access to the investigator .

传统金融学与行为金融学对IPO折价解释的比较研究

Comparison of Traditional Financial Science and Conduct Financial Science with IPO Underpricing Explanation

行为金融学以及管理决策行为的研究进一步推动了行为公司金融学（BehavioralCorporateFinance）的兴起和发展。

Researches in behavioral finance along with those in management decision behavior facilitate the spring-up and development of behavioral corporate finance , which focuses on financial decisions of listed companies under irrational circumstances of capital market .

研究者一般基于信息不对称理论、制度理论和行为金融学理论，试图去解释IPO溢价现象，由此形成了不同的理论假说。

Researchers generally based on asymmetric information theory , systems theory and behavioral finance theory , trying to explain the phenomenon of IPO premium , thus forming the different hypotheses .

巴克莱财富（barclayswealth）的行为金融学专家格雷格戴维斯（gregdavies）指出：购房体验在很大程度上是一次情感体验，与购买艺术品的感觉相类似。

Greg Davies , a behavioural-finance expert at Barclays Wealth , says the experience of buying a home is a largely emotional one , similar to that of buying art .

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 .

同时，在对IPO抑价解释上，传统经济学显得越来越乏力，而行为金融学理论也越来越被人们接受。

So we will target to the secondary market about main reason of IPO underpricing . Meanwhile , on the interpretation of IPO underpricing , conventional economics has become increasingly weak , and behavioral finance theory is increasingly being accepted .

而对于后者的研究则以行为金融学的解释最为广大学者所接受，其中又以Hong和Stein（1999）提出的统一模型即HS理论模型最具代表性，影响也最大。

In the latter research , the explanations of financial behavior finance are most accepted by majority of scholars , among which the HS model theory proposed by Hong and Stein ( 1999 ) gets most representative and greatest impact .

股票市场过度反应是对有效市场假说的-个重要挑战，也是行为金融学研究领域的一项重要内容。过度反应假说是由Debond和Thaler最先正式提出的。

The stock market overreaction is one of the important challenges to effective market hypothesis , is also an important content in the field of behavior finance research . " Overreaction " hypothesis was first formally proposed by De the bond and Thaler .

本文基于DHS模型，在一个截面市场中，给出包括投资者保守性偏差和以归因偏差为条件的过度自信偏差的一个行为金融学模型。

Under the framework of DHS model , this paper tries to build a behavioral finance model in a cross section market , consisted of investor conservatism deviation and excessive confidence deviation with the presupposition of self-attribution deviation .

其次本文利用行为金融学中DHS模型解释了投资者心理对股票价格的信息反应过度以及反应不足的过程，以及当投资者过度自信时对股价波动的影响。

Then , I make use of the DHS model in the behavioral finance , giving an explanation to the investors ' overreaction and under-reaction to the stock price and the influence on the stock price for investors ' overconfidence .

行为金融学对投资者的心态进行分析，BSV模型认为投资者的两种重要的心理因素&保守性偏差和代表性偏差促使了股票市场过度反应的存在。

The paper uses behavioral finance to analyze the mentality of investors . First , BSV model is that investors in two important psychological factors : conservative bias and representation bias prompted .

文章在最后通过研究分析后，对影响预期股票收益的决定因素的具有解释能力的原因进行了探讨，并用行为金融学的观点对预期股票收益偏离CAPM的异常进行了探讨。

This paper discusses the reason why the determinants such as size and B / M have explanatory power after a series of empirical analysis . And the paper also uses the viewpoints of behavioral finance to explain the anomalies that expected stock returns deviate the CAPM .

通过将行为金融学和数据分析结合起来，这股颠覆性力量也可以帮助金融业摆脱对FICO评分的依赖。FICO评分偏向于主要以财务状况来校准的分析模型。

Through the incorporation of behavioural finance and data analytics , the disruptive forces also help to wean the industry off its obsession with FICO scores in favour of analytical models more calibrated with financial health .

上市公司股利政策的行为金融学诠释

An Explanation of Dividend Policy in Listed Firms by Behavioral Finance

行为金融学视角中的中国居民储蓄

The Saving Behavior of the Chinese Residents Explained by Behavioral Finance

论行为金融学理论在我国投资开放式基金中的应用

The Application of Behavioral Financial to our Investing in Open-ended Fund

二十世纪后期，行为金融学产生。

In the late twentieth century , Behavioral Finance Theory emerged .

行为金融学研究的崛起与新发展

The Rise and New Development of the Study of Behavioral Finance

标准金融学的经验异常与行为金融学的兴起

Empirical Anomalies in Standard Finance and the Rise of Behavioral Finance

公司财务管理的行为金融学分析

COMPANY Corporate Financial Management Based On The Analyses of Behavioral Finance

封闭型基金折价交易的行为金融学研究

A Study on Closed-end Fund Discount Puzzle Under Behavioral Finance Perspective

后悔和风险认知均是行为金融学的研究热点。

Regret and risk cognition are intensively investigated in Behavioral Finance .

行为金融学的投资者风险偏好探析

A Probe into the Risk Preference of Investors in Behavioral Finance

中国股市运行机理的行为金融学研究

A Behavioral Finance Analysis of the Mechanism of Chinese Stock Market

基于行为金融学的风险资产定价模型研究

Study on the Pricing Model of Risky Assets Based on Behavioral Finance

对证券市场过度反应现象的研究是行为金融学的一个重要研究方向。

The study on overreaction is an important aspect of Behavioral Finance .

然后用行为金融学的理论来解释封闭式基金之谜，并说明这能很好的解释了所有的谜团。

Then the enigma of discount is unpuzzled well by behavioral finance .

行为金融学逐渐替代传统金融理论，构建起新的框架和新的基本观念。

Behavioral finance substitutes new constructs , new fundamental ideas .