中国证券投资基金的需求与其风格“标签”关系的实证分析  

Empirical Study on Relation between Demands and the Styles of Fund

作　　者：卢小兵[1] 

机构地区：[1]西安交通大学经济与金融学院,陕西西安710061

出　　处：《广东金融学院学报》2007年第2期23-28,共6页Journal of Guangdong University of Finance

摘　　要：对于以组合管理为基本方法的证券投资基金,由于其投资风格选择的不同会导致投资者对其投资偏好的差异,加之证券市场的非有效性和投资者的非完全理性,投资者对基金的投资决策更多基于心理动机和行为因素的判断。本文运用行为组合理论,对我国证券市场封闭式基金的折价状况进行了考察,分析了证券投资基金投资风格选择对基金需求的影响及我国证券市场投资者的需求特点和偏好状况。Portfolio management is the basic approach to securities investment funds, because of the different investment styles, investors will have the difference preferences when they make their choice. Investment decision-making almost based on psychological and behavior factors coupled with the non-effectiveness of the securities market and the non-rational investors. This article amylases the closed funds＇ discount and theirs investment style based on the behavioral porffoho theory and also review the investors＇ demand characteristics and preferences situation of our country.

关 键 词：行为组合理论 投资基金 投资风格 投资者需求 

分 类 号：F830.91[经济管理—金融学]