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美国犹他大学论文代写:中国市场研究分析

美国犹他大学论文代写:中国市场研究分析

基于上述对中国市场的相关情况研究分析,证据被发现的非理性的羊群效应在中国股市发生。也有人观察到,与B类股票市场的投资者相比,B类股票市场的投资者在知情情况下更容易出现羊群行为(Chiang和郑2010)。此外,投资者持有的行为以不同的方式在下跌和上涨的市场有一批在中国市场较短的销售相关限制参与的趋势。考虑到日常数据的股价在中国组织的整个人口和平均加权指数的市场,从中国股市的所有组织的市场和会计研究数据库年底市值(morck1989),据了解,在中国投资者中的羊群行为是一种现象,一段时间的生活。除此之外,Chang et al已经说过了。(2000)由于市场信息披露方式不当,市场参与者,特别是投资者,往往缺乏与本组织有关的基本信息。这可以看作是根据许多信号进行贸易的原因。B类股票的投资者是国际投资者。国际股东被看作是遭受到与当地股东比较信息不对称问题(苦叹2006)。这可以被看作是一个关键原因,因为投资者不喜欢与全球投资相比,对地方投资进行偏好,而不考虑多样化带来的明显和明显的好处。除此之外,市场份额B类已面临流动性不足的问题就严重。这部分是因为自然被他们的所有权的限制和类型进行(naik1995)。这被认为是关键原因,因为B类股票的价格与A类股票折价。这是由于不论他们两人是否拥有与现金流动有关的平等权利。因此,这证明了羊群行为的不合理性。

美国犹他大学论文代写:中国市场研究分析

Based on the analysis of the case study mentioned above related to the market of China, evidence have been found for irrational herding taking place in the  equity markets of China. It has also been observed that the behaviour of herding is more evident to occur amongst investors of class B share market who are less informed in comparison with the investors in the class A share market (Chiang & Zheng 2010). In addition to this, investors hold the tendency of behaving in a different manner within the down and up market as there is an involvement of a number of restrictions related to shorter amount of sales in the markets of China. Considering the daily data of prices in stock for the whole population of organizations in China and the equally weighted index of the market and the year end capitalization in the market for all organizations from the stock market of China and in the research database of accounting (Morck1989), it has been understood that the herd behaviour amongst investors in China is a phenomenon living for a short period of time. In addition to this, it has been stated by Chang et al. (2000) that with the involvement of inappropriate ways for disclosing information, participants of the market, particularly investors, hold the tendency of lacking the basic information related to the organization. This can be considered as the cause of trade in accordance with a number of signals. Investors in class B shares are international investors. International shareholder has been seen to be suffering from major problems related to the information asymmetry in comparison with the local shareholders (Kutan 2006). This can be considered as one of the key reasons due to which investors show preferences towards making local investment in comparison with the global investment, irrespective of the obvious and apparent benefits that can be introduced by diversification. In addition to this, class B of market shares have been facing serious issues with respect to illiquidity. Partly this is because of the nature being carried out by their ownership restrictions and types (Naik1995). This is considered to be the key reason due to which shares from class B are given a price with discount to the shares of class A category. This is due irrespective of the point that both of them have been carrying equal rights related to the flows of cash. Hence, this proves the irrationality of herding behaviour.