摘要
羊群行为是金融市场上一种特殊的非理性行为,证券市场上的羊群行为会影响证券的价格,带来了证券价格过度的波动和市场的脆弱性。通过对证券投资基金投资行为进行测度,发现证券投资基金中有较重的羊群行为。单纯发展机构投资者并不能起到平抑股价,恢复市场理性的作用。
Sheep behavior is a special kind of irrational behavior on financial market, and on the security market it may influence the price securities and bring about the excessive fluctuation of security price and the fragility of the market, Through estimating the investment behavior of security investment fund, this paper finds that there is a sort of sheep behavior in the security investment fund. It holds that the simple develolment of institutional investors cannot stabilize stock price and resume the rational market.
出处
《商业研究》
北大核心
2006年第7期160-162,共3页
Commercial Research
关键词
羊群行为
投资基金
羊群行为度
sheep behavior
investment fund
trend of sheep behavior
