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投资者情绪作用下的市场之谜:基于中国A股市场的实证分析

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摘要 传统金融学理论认为,风险和收益成正相关关系为金融学分析框架为指导,通过对中国股票市场的实证分析显著影响:当投资者情绪高涨时,随着非系统性风险的递增风险的增加,收益波动上升。但这一理论无法解释高风险低收益等市场异象。本文以行发现投资者情绪对期望收益和非系统性风险两者的关系有收益先增加后减少;当投资者情绪低落时。
出处 《中国经贸》 2012年第10期118-121,共4页 China Global Business
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