摘要
以管理者对对象来研究羊群行为,在对有关投资者羊群行为研究文献进行分析的基础上,提出了一种度量管理者羊群效应的指标,然后结合中美市场IPO行为进行了实证。结果表明,中美证券市场的IPO发行过程中都存在一定程度的羊群效应,相对来说,中国证券市场的IPO行为羊群效应程度更强。
In this paper, the author studies herding behavior on the basis of analysis of managers. A measuring index for managers＇ herding behavior is posed based on the research about investors＇ herding behavior. Then empirical researches on Chinese and American security market are made, result of which shows the existence of herding behavior to some extent, and comparatively, the effect of this phenomenon is more salient in Chinese security market.
出处
《湖南科技大学学报（社会科学版）》
2008年第6期95-99,共5页
Journal of Hunan University of Science and Technology(Social Science Edition)
