投資者認(rèn)知收益度量模型及系統(tǒng)設(shè)計(jì).pdf

1、碩士學(xué)位論文投資者認(rèn)知收益度量模型及系統(tǒng)設(shè)計(jì)ModeiofPerceivedReturnEstimationandDesignforEstimationSystem作者姓名：學(xué)科、專業(yè)：學(xué)號：指導(dǎo)教師：完成FI期：型遂丕統(tǒng)王猩2Q311Q壘2盎芏壺2Q墮：!!：12大連珥工大學(xué)DalianUriversityofTechnology投資糟認(rèn)9tlk豁度鼙豐羹’及系統(tǒng)設(shè)計(jì)ModelofPerceivedReturnEstimationan

2、dDesignforEstimationSystemAbstractAccordingtotheresultofbehavioralfinance，theinvestorsarenotfullrationalitybutboundedrationalityandtheirarbitragebehaviorisalsolimitedwhichcallnotrestrictthesecurities’pncaSowithintheflame

3、ofbehavioralfinance，it’salimitationtousethemeasurementoftraditionalfinancetoestimatethereturnofsecuritiesIfwewantageneralestimationofthesectuityreturns，wemusttaketheboundedrationalityofinvestorsintoaccount，Andithasbecome

4、animportantmsearchdirectioninfuRnestudyofbehavioralfinancetocombinetheinvestors’boundedrationalitywithpresentmodelsandtoexplainmarketanomaliesInolirmodelweconsiderthedegeeofinvestors’conservatismbiasandrepresentativeheur

5、isticbiasandtheproportionofthetwotypeofinvestorswNchinfluenceinvestors’perceivedreturnIfthedegreeandproportionoftheconservatisminvestorsislagertheperceivedreturnofthewholeinvestorsissmallerandifthedegreeandproportionofth

6、erepresentativeheuristicinvestorsislagertheperceivedreturnofthewholeinvestorsisbiggerPresentarticlesstudyonthebasisofhistorydatabuttheydon’ttaketheinvestors’boundedrationalityintoaccountOnthebasisoftheinvestorsconservati

7、smandrepresentativeheuristicbias，thispaperstudiestheimpactofinvestorlspsychologyonexpectedsecuritiesreturnBycombiningthemethodsinthemodelsofBSVandDHS，weestablishamodeltoestimateinvestor’sperceivedreturnbasedonthetwokinds

8、ofbiases，Accordingtotheestimationmodelofperceivedreturnwehaveestablishedandthefactorswhichinfluenceitwedesignaestimationsystemofinvestors’perceivedreturnandrealizeitwithsoftwareofVisualBasic60andAccess2000sothatitcanassi

9、stinvestorsinchoosingthemostproperinvestingstrategyFinallyanempiricalperceivedmturnaboutcompaniesisanalyzedbasedonthedatabaseofChinasecuritiesbusiness，andtheinvestorstrategysuggestionsarealsogivenKeyWords：PerceivedReturn