我国股票型开放式基金赎回行为的研究  

Study of the Redemption Behavior of Mutual Equity Funds in China

作　　者：虞红霞[1] 王启亮[2] 陈晞[1] 

机构地区：[1]厦门大学经济学院,福建厦门361005 [2]厦门大学管理学院,福建厦门361005

出　　处：《金融理论与实践》2008年第8期30-33,共4页Financial Theory and Practice

基　　金：国家自然科学基金(批准号:70672099);厦门大学创新团队发展计划的资助

摘　　要：本文采用2006-2007年的季度数据对我国股票型开放式基金的赎回行为进行研究,结果表明基金单位净值增长率、基金分红、基金流动性和股票市场收益是影响基金赎回行为的重要因素,同时利用行为金融学理论进行解释,进而为基金流动性风险管理提出政策建议。In this paper, the redemption behavior of mutual equity funds in China is examined by using quarterly data of Chinese capital markets from 2006 to 2007. The results show that RNAV, dividends ,the liquidity of funds and the stock market returns are important factors to affect the redemption behavior, and behavioral finance theory is adopted to explain the results. Moreover, some proposal about liquidity risk management of funds are put forward in this paper.

关 键 词：开放式基金 赎回 处置效应 羊群行为 

分 类 号：F830.91[经济管理—金融学]