A Study of the Factors Influencing Investors' Expectations in the Chinese Stock Market
DOI:
https://doi.org/10.54691/bcpbm.v30i.2269Keywords:
Investor expectations; Influencing factors.Abstract
With the continuous development of behavior finance, scholars have paid more and more attention to the irrational factors in the stock market, and the research on the psychological factors of investors in the stock market is also more in-depth. The decline of the irrational investment sentiment of the noise investors caused by the decline of the investment value of the stock market has weakened the adverse effects of the investor's non-rational behavior on the stock market, and thus, the negative effects of the investor's non-rational behavior on the stock market are weakened. The expectations of rational institutional investors and some rational individual investors begin to rise. The relevant government departments can use the conclusion of this paper to guide investors to regulate the stock market, and investors can adjust their investment strategies promptly according to the conclusion of this article.
Downloads
References
Keynes, J.M., 1936, The General Theory of Employment, Interest and Money, Lonton;
MacMillan and Co. Friedman, M., 1957, “A Theory of the Consumption Function”, NBER Book, 57-1.
Lucas, R.J.,1972, “Expectations and the Neutrality of Money”, Journal of Economic Theory, 4(2), 103-124.
Adam, Klaus; Marcet, Albert; Beutel, Johannes. Stock Price Booms and Expected Capital Gains. [J]. American Economic Review. 2017, Vol.107 (No.8): 2352-2408.
Annarita Colasante; Antonio Palestrini; Alberto Russo; Mauro Gallegati. Adaptive expectations versus rational expectations: Evidence from the lab [J]. International Journal of Forecasting. 2017, Vol.33(No.4): 988-1006.
Jorg Bley; Mohsen Saad. Idiosyncratic risk and expected returns in frontier markets: Evidence f-rom GCC [J]. Journal of International Financial Markets, Institutions and Money. 2012, Vol.22 (No.3): 538-554.
Chunpeng Yang; Wei Yan; Rengui Zhang. Sentiment approach to negative expected return in the stock market [J]. Economic Modelling. 2013: 30-34.
Omankhanlen Alex Ehimare; Senibi Esther Johnson; Senibi Victoria Kenny. Macroeconomic Indicato-rs and Stock Price Movement Nexus: A Study of the Nigerian Stock Market [J]. The Social Sciences. 2016, Vol.11 (No.13): 3294-3306.
Wang Tongtong.The interaction between macroeconomic sentiment and Chinese stock market returns: A study based on VAR model [J]. Journal of Economic Research, 2016(14): 1-13.
Wu Di. Analysis of the correlation between macroeconomic variables and stock market-taking the CSI 300 index as an example [J]. China Market, 2017(26): 16-18.
Sharp W F. Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk [J]. Jo-urnal of Finance.1964, 19(03): 425-442.
Fama E F.,MacBeth J D.,Risk,Return,and Equilibrium: Emprical Test [J]. Journal of Political Econo-mic.1973:607-636.
Wu Changfeng, Zhao Jun,and Wu Guofu (2002) Return-risk relationship and inertia analysis of the Chinese stock market [J]. The practice and understanding of mathematics, 2002(07): 576-582.
SHILLER. R Stock prices and social dynamics [J]. Brookings Papers on Economic activity, 1984(02): 457-498.
Li Wei, Wang Susheng. An empirical study of Chinese stock market noise from the perspective of positive feedback trading [J]. Journal of Chang'an University (Social Science Edition), 2012, (03): 47-53.
Downloads
Published
Issue
Section
How to Cite
