基于情绪的市场认知风险和市场认知收益.pdfVIP

第14卷第3期 上海应用技术学院学报(自然科学版) V01．14No．3 SHANGHAIINSTITUTEOF 2014年9月 JOURNAI—OF TECHNOI，OGY(NATURAl，SCIENCE) Sep．2014 文章编号：1671～7333(2014)03—0270—04 基于情绪的市场认知风险和市场认知收益 李潇潇 (上海应用技术学院理学院，上海201418) 摘要：非理性投资者的认知风险和认知收益受投资者情绪的影响．基于投资者情绪的非理性认 知风险度量模型，并利用理性和非理性投资者的相互作用，构建市场认知风险和认知收益度量模 型，分别研究理性和非理性认知风险、认知收益对市场认知风险、认知收益的偏离问题．结果表明， 非理性认知风险和认知收益的偏离程度与理性和非理性投资者的市场价值权重以及非理性投资者 的情绪有关． 关键词：情绪；市场认知风险；市场认知收益 中图分类号：F830．9l 文献标志码：A R Return Sentiment—BasedMarketPerceivediskandPerceived LJXiao—xiao of Instituteof 201418，China) (School Sciences，ShanghaiTechnology，Shanghai sentimentofirrationalinvestorscanaffect riskand return．Anirrational Abstract：The perceived perceived riskmodelwasconstructedbasedonsentiment．TWOmodelsofmarket riskand perceived perceived and returnwere theinteractionofrationalinvestorsirrational through perceived presented issuesofdeviationofrationalandirrational riskandreturnfrommarket riskandreturn perceived perceived risk were resultsshowedthatthe ofthedeviationofirrational and investigated．The degree perceived rationalirrationalinvestors irrational returnhad todowiththevalue of and perceived something weighting