【摘要】 传统的西方财务理论和实际的证券市场上的情况存在着不同,这样就引起了人们对西方财务理论质疑,主要是对传统西方财务理论的基础有效市场理论的质疑。本文从现代证券市场中与传统的西方财务理论不一致的异象出发,引出了可以解释这些情况的行为金融学。行为金融学是以有限理性为基础的,它比传统金融理论的完全理性假设更符合证券市场的现实情况。更多还原

【Abstract】 Traditional financial theories have some conflicts with what’ve been happening in the real stock markets, therefore people are inquestion of the traditional financial theories. They are mainly in doubt with the basis of western financial theories--Efficient Market Theory.Starting from some modem, this article focuses on Behavioral Finance which challenges the EMT most. Behavioral Finance is based on limited rationality, thus it can explain the phenomena in the stock markets better.更多还原