行为金融:认知风险与认知期望收益

Abstract

Abstract: Under the frame of behavioral finance,this article established a model of perceived risk and a model of perceived expected return based on investor psychology in which over-confidence was taken into consideration,and further studied the relationship between perceived risk and perceived expected return.We showed that the negative correlation between perceived risk and perceived expected return which is contrary to the results in the standard finance theory.Through financial experiments,Shefrin(2001) found it is negatively correlated between perceived risk and perceived expected return.This article gave an effective explanation to the research of Shefrin(2001).

Key words: behavioral finance, perceived risk, perceived expected return

CLC Number:

F830
C931

YANG Chun-peng, WU Chong-feng, CHEN min. Behavioral Finance:Perceived Risk and Perceived Expected Return[J]. Chinese Journal of Management Science, 2005, (3): 15-19.

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Behavioral Finance:Perceived Risk and Perceived Expected Return

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