【摘要】 从羊群行为的概念、分类及形成机理出发,回顾了国内外金融市场中羊群行为的研究成果,深入地探讨了羊群行为的形成理论及其相应的实证检验结果。研究发现:羊群行为是一个和市场效率紧密相连的概念,羊群行为究竟是不是有效,取决于市场吸收和消化新信息的速度。更多还原

【Abstract】 This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. The conclusion is that the herd behavior closely linked with the market efficiency. The efficiency of herd behavior is depend on the market velocity of absorbing new information.更多还原