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金融学essay:影响投资者财务决策过程的心理因素研究

论文编号:lw201605131438547754 所属栏目:essay写作 发布日期:2018年10月08日 论文作者:无忧论文网

1. Introduction介绍

对于投资者财务决策过程的研究,研究者最关注的是心理因素。心理因素的研究经历了从标准决策到决策演化的过程,决策规则的抽象意义发展到以有限理性资源适应社会的决策策略。

心理因素是投资者理财决策过程中的重要因素。本研究引入四个心理因素来探讨其对投资者财务决策过程的影响。本研究结果在认知心理学领域中具有一致性。
心理因素研究形成了四种重要观点。一点是处置效应,这意味着在价值下跌后不愿出售投资。 A,也称为“盈亏平衡”效应。另一点是投资者对风险的看法,投资者对未来的损失更为困扰,而不是因为预期收益而感到高兴。下一点是投资选择的心理会计,它将股票与其购买价格联系起来。最后一点是错误的定价,它使你们陷入赌徒谬误(Shefrin,1999),就像你们认为黑数在一系列红数出现后“命中”的可能性更大一样。
For researches on financial decision-making process of investors, researchers pay most close attention to the psychological factors. The psychological factors research has experienced from the standard decision to the evolution process of decision making, the abstract meaning of decision rules developing into the decision making strategy on the basis of limited rational resources fitting society. 
Psychological factors are important factors financial decision-making process of investors. This study introduces four psychological factors to investigate their influence on the financial decision-making process of investors. The results of this study have consistency in the area of cognitive psychology.
The psychological factors research has formed four kind of important points of view. One point is disposition effect which means a reluctance to sell investments after they have fallen in value. A, which is also known as the “breakeven” effect. Another point is Investors’ perception of risk which investors are much more distressed by prospective losses than they are happy aboutby prospective gains. The next point is mental accounting on investment choices which Associating associate a stock with its purchase price. The finally point is mispricing which makes you people stuck in the Gambler’s Fallacy (Shefrin,1999), just like you think that it is more likely for a black number to “hit” after a series of red numbers have hit.

2. Four Psychology Factors
2.1 Disposition Effect 
2.2Investors’ Perception of Risk
2.3Impact of mental accounting on investment choices
2.4Mispricing

3. Conclusion总结

From the literature review of previous researches and the experiment carried out in this study, Psychology of economy which relates to attitude data is in complete same as economic situation changeable trend, and more significant thing is that the curve of the attitude in the economic situation data which is always changing may be predicted 3 weeks to 6 months ahead of time. This paper argues that: economy and psychology are still in development, they are at a high level of understanding of human behaviors. Therefore, simply giving any positive conclusion may not scientific, and is likely to mislead further research, and scientific attitude may be true, see which is better able to explain the economic behaviors in the human reality. This article does not just economics influence on psychology to review and comment, on the contrary, the main purpose of this article is to briefly review and comb the psychology found and its influence on economics, so as to research in the field, and it is helpful to the development of economics.

Reference文献

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