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1、[键入文字]郑州大学西亚斯国际学院本科毕业论文（设计）题目_我国股票市场中投资者羊群行为原因及影响分析__指导教师_______杨军______职称____副教授_____学生姓名____党钟秀___学号____20101814305____专业______金融______班级________三班________院（系）____________国际教育学院____________完成时间_________2014年4月21号___________[键入文字]我国股票市场中投资者羊群行为原因及影响分析摘要投资市场中的羊群效应是由从众行为造成的
2、，对于股票市场有重大影响，能引起股价的不正常波动。本文首先解释了羊群行为的概念，之后对其特征进行了描述，之后又对羊群行为进行了分类，随后介绍了羊群行为产生的原因和对股票市场的重大影响，分为积极影响和消极影响，最后本文又分别对政府、交易所和投资者提出了启示与建议。本文将羊群行为分为三类，分别是真实的羊群行为与虚假的羊群行为，理性的羊群行为、有限理性的羊群行为和非理性的羊群行为。对于形成羊群行为的原因阐述了主要的三条，分别是从众的本能，对报酬、声誉的需要，基于信息不完全及不确定性和成本太高。随后对其影响进行了探讨，虽然大多数研究者对羊群行为持批
3、判反对态度，但不可否认的是羊群行为也会产生一定的积极影响，本文对消极影响和积极影响均进行了阐述。最后并根据羊群行为的成因分别对政府、交易所、证券公司和投资者提出了启示与建议。关键词羊群行为/成因分析/影响分析/对策建议IV[键入文字]AnalysisontheCauseandImpactofInvestor’sHerdingBehaviorintheChineseStockMarketABSTRACTHerding investment markets caused by herd behavior, which have a signif
4、icant i-mpact on the stock market, can cause unusual fluctuations in stock prices. In this paper, the herd behavior of investors carried out a detailed analysis, including its concept, characteristics and classification, especially comprehensive exposition of its causes.He
5、rd behavior will be classified into real herd behavior and false herd behavior, rational, limitedly rational and irrational herd behavior. Meanwhile, the paper elaborated thr-ee major reasons for the formation of the herd behavior, namely the herd instinct, the need for co
6、mpensation, reputation, based on incomplete information and uncertainty a--nd high costs. Then its impact is discussed, although most researchers criticised herd behavior, it is undeniable that herd behavior will have some positive influences. In this paper, the negative o
7、r positive influences are both described. Finally, the recommendations for governments, exchanges, securities companies and investors revelation are made by the fact of the causes of herd behavior.KeyWordsHerdingBehavior,GeneticAnalysis,ImpactAnalysis,CountermeasuresandSug
8、gestionsIV[键入文字]目录中文摘要………………………………………………………………I英文摘要……………………………………………………………...II1绪论…………………
