福建省社会主义学院学报
福建省社會主義學院學報
복건성사회주의학원학보
Journal of Fujian Institute of Socialism
2008年
1期
108~110
,共null页
羊群行为 证券投资基金 股票
羊群行為 證券投資基金 股票
양군행위 증권투자기금 고표
Herding Behavior; Securities investment funds; Stock
投资者的羊群行为长期以来一直被认为是导致股票市场剧烈波动的一个重要原因，它不仅引发了巨大的股价泡沫，使市场运行效率低下，而且也使得市场系统风险不断增大，股市由此而变得脆弱。但证券投资基金的投资行为到底如何，它们之间是否也存在羊群行为，本文为此在理论上作浅谈探讨。
投資者的羊群行為長期以來一直被認為是導緻股票市場劇烈波動的一箇重要原因，它不僅引髮瞭巨大的股價泡沫，使市場運行效率低下，而且也使得市場繫統風險不斷增大，股市由此而變得脆弱。但證券投資基金的投資行為到底如何，它們之間是否也存在羊群行為，本文為此在理論上作淺談探討。
투자자적양군행위장기이래일직피인위시도치고표시장극렬파동적일개중요원인，타불부인발료거대적고개포말，사시장운행효솔저하，이차야사득시장계통풍험불단증대，고시유차이변득취약。단증권투자기금적투자행위도저여하，타문지간시부야존재양군행위，본문위차재이론상작천담탐토。
Herding behavior of investors has long been considered as an important cause leading to a drastic fluctuation in the stock market, it not only triggered a huge stock bubble to bring about inefficient operation of the market, but also caused to the growth of the market system risks, which is to make the stock market become vulnerable. However, which action is basic in securities investment funds？ Do they also exist in it？ This paper discusses the problems by using some theories.
