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近年来,行为金融理论越来越受到人们的重视。本文以行为金融理论为基础,从不同角度上对我国大陆股票市场的交易活跃程度、市场有效性和羊群效应进行研究,并将此与香港股票市场进行比较,发现我国大陆市场有效性不及香港市场,交易活跃程度相当,羊群效应程度大于香港市场。
In recent years, behavioral finance theory has drawn more and more attention. Based on behavioral finance theory, this dissertation studies the degree of transactional activity, market effectiveness and herding in China’s mainland stock market from different perspectives. By comparing this with the Hong Kong stock market, it finds that the market efficiency in mainland China is less than that in Hong Kong Market, transaction level quite, herd effect greater than the Hong Kong market.