摘要
对股市萧条原因的研究一直是市场争论的热点。各种不确定因素存在于现实的证券市场,现代金融理论很难对股权割裂等原因导致的众多“异象”做出清楚的解释。行为金融学理论则能较好地解释我国当前股市投资者信心崩溃、负和博弈、流动性风险的形成等问题。推动资本市场趋向长期良性发展的关键,是政府应该创造良好的制度环境和市场体制。
The cause of the depression of stock market has always been the focus of heated debates. There are all kinds of uncertainties in real stock market. Modem finance theory cannot give clear explanations for the unusual phenomena caused by equity segmentation. The present paper first analyzes the development of finance theory, and then explains the problems in the present capital market by using relevant theory. Finally the article supplies the corresponding tactics to speed the long-term benign development of the capital market in China.
出处
《安徽大学学报（哲学社会科学版）》
CSSCI
北大核心
2006年第4期135-139,共5页
Journal of Anhui University(Philosophy and Social Sciences Edition)
基金
国家自然科学基金项目(70472046)
教育部哲学社会科学创新基地南京大学经济转型与发展研究中心项目
