摘要
除外部宏观因素外,企业的财务风险很大程度源自利益相关者的非理性行为,尤其是管理者和投资者的非理性行为。从行为经济学视角分析,这种非理性行为产生的原因在于行为人在不确定条件下决策时的各种认知偏差。其对企业决策有重要影响,会使决策偏离最优,给企业带来财务风险,损害企业价值。因此,应防范非理性行为的发生,以降低企业财务风险。
Financial risk mainly roots in irrational behavior of stakeholders besides external macroeconomic factors, especially irrational behavior of managers and investors. From the perspective of behavioral economics, the actors＇ cognitive biases in declsion-making in uncertain condition lead to irrational behavior. They have important influence on enterprises＇ decision making. They can make decisions non optimal, bring financial risk and damage enterprise value. We should keep irrational behavior away to lower irrational behavior.
出处
《财经理论与实践》
CSSCI
北大核心
2007年第5期74-77,共4页
The Theory and Practice of Finance and Economics
关键词
行为经济学
财务风险
成因分析
风险防范
Behavioral Economics
Financial Risk
Cause of Formation Analysis
Risk Prevention
