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中国证券投资基金的羊群行为分析 被引量:1

Analysis of the Sheep Behavior of Security Investment Fund in China
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摘要 国内外经济学家的研究表明,证券市场存在着羊群行为。证券投资基金的设立,其目的之一,正在于希冀避免羊群行为。然而,在中国证券投资基金的实际运作中,仍然存在着羊群行为的特征。文章对此进行进一步实证,着重分析了产生的原因,并提出了对策建议。 According to the research of economists from domestic and overseas,there is sheep behavior in the security market.One of the purposes of the establishment of the security investment fund,is lying in hoping to avoid the sheep behavior.However,there still lies characteristic of sheep behavior in the practical operation of our country's security investment fund.This article carried through further demonstration on this,analyzed the reason which causes this emphatically,and put forward the countermeasure and suggestion.
出处 《广西经济管理干部学院学报》 2005年第1期43-47,共5页 Journal of GuangXi Cadres College of Economic and Management
关键词 投资基金 羊群行为 Investment fund Sheep Behavior
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  • 2Grinblatt,Mark,Sheridan Titman,Russ Wermers.Momentum Investment Strategies,Portfolio Performance and Herding: A Study of Mutual Fund Behavior.American Economic Review,Forthcoming.
  • 3Lakonishok Josef,Andrei Shleifer and Robert W.Vishny,1992.The Impact of Institutional Trading on Stock Prices.Journal of Financial Economics 32,no.1,pp.23-44.
  • 4Wermers,Russ,1994.Herding,Trade Reversals and Cascading by Institutional Investors.Working Paper,UCLA,and University of Colorado,Boulder,CO.
  • 5Wermers,Russ,1999.Mutual Fund Herding and the Impact on Stock Prices.Journal of Finance,Vol.54,pp.581-622.
  • 6施东晖.证券投资基金的交易行为及其市场影响[J].世界经济,2001,24(10):26-31. 被引量:250

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