Behavioral Finance
Tags
Summary
Editor's review
Who it's for
A good fit for
- Students majoring in finance or economics who need a systematic overview of the behavioral finance theoretical framework
- Securities and fund practitioners seeking to understand market anomalies and investor behavioral biases
- Corporate finance and senior executive readers concerned with cognitive limitations in leadership decision-making
- Advanced readers who question the explanatory power of traditional finance and want a behavioral perspective
Not a good fit for
- Complete beginners: the book engages with traditional finance concepts and theories, so the entry threshold is relatively high
- Practical-minded readers looking for specific stock-picking techniques or short-term trading strategies
- Readers who prefer purely popular psychology books and are not interested in financial theory systems
Reading tips
- Read Part I on market anomalies first, and enter the theory sections with the question "why can't traditional theory explain this?"
- Read Part II's psychological theories and limits of arbitrage slowly, ideally alongside relevant chapters in traditional finance textbooks
- Read Part III section by section according to the three types of participants—individuals, institutions, and corporate leaders—and take notes in relation to your own decision-making situations
- After each chapter, try to restate that chapter's theory using a real market phenomenon to test your understanding
About the publisher
Peking University Press is a comprehensive university press whose publishing areas cover classical literature, popular science, social culture, world history, Western philosophy, and culture. Its catalogue contains 6,031 titles, with representative books including A Dream of Red Mansions, Relativity: The Special and General Theory (15th Edition) (with Einstein's classic papers on unified field theory and other topics), Elements, Conics, The Aristocratic Families of the Eastern Jin, The Philosophy of Mythology (Volume I), The Philosophy of Mythology (Volume II), and The Origin of Continents and Oceans. Representative authors include Cao Xueqin, Zhou Ruchang, Albert Einstein, Euclid, Apollonius, Tian Yuqing, Schelling, and Xian Gang. The press has developed distinctive strengths in classical Chinese literature and in the translation of Western philosophical classics, while also covering scientific classics and social and cultural studies. As public information is limited, this description is based only on the books in the catalogue and offers no further extrapolation.
Contents
- 版权信息
- 前言
- 第一部分 市场的非效率性
- 第一章 什么是行为金融学
- 第一节 贪婪与恐惧
- 第二节 2002年诺贝尔经济学奖与行为金融学
- 第三节 早期的行为金融学研究
- 第四节 什么是行为金融学
- 第五节 传统金融学理论
- 本章小结
- 思考与练习
- 第二章 市场异常
- 第一节 赢者的诅咒
- 第二节 金融泡沫
- 第三节 股市的季节性现象
- 第四节 股票溢价之谜
- 第五节 股票价格的过度波动性
- 第六节 股市的可预测性
- 第七节 20世纪90年代的网络股异常
- 本章小结
- 思考与练习
- 第二部分 行为金融学的理论基础
- 第三章 套利的有限性
- 第一节 套利的成本约束
- 第二节 套利的风险约束
- 第三节 套利者激励结构的约束
- 第四节 政治、制度规则与文化约束
- 第五节 套利有限性的证据
- 本章小结
- 思考与练习
- 第四章 心理学（上）：信念
- 第一节 经验法则
- 第二节 过度自信
- 第三节 过度乐观
- 第四节 控制力幻觉
- 第五节 信息幻觉与专家幻觉
- 第六节 对随机性与回归平均值的误解
- 第七节 事后聪明与低估偶然性的作用
- 第八节 自我归功与过度自信
- 第九节 自我控制
- 第十节 一厢情愿思维
- 本章小结
- 思考与练习
- 第五章 心理学（下）：偏好
- 第一节 展望理论
- 第二节 厌恶损失
- 第三节 厌恶模糊与寻求模糊
- 第四节 框架效应
- 第五节 心理会计
- 第六节 偏好逆转
- 第七节 原赋效应与维持现状偏好
- 本章小结
- 思考与练习
- 第六章 羊群行为
- 第一节 羊群行为现象
- 第二节 对羊群行为的解释
- 本章小结
- 思考与练习
- 第七章 有界理性
- 第一节 什么是有界理性
- 第二节 为什么理性是有界的
- 本章小结
- 思考与练习
- 第三部分 行为金融学理论的应用
- 第八章 对股市整体异常的解释
- 第一节 股票溢价
- 第二节 股市回报的过度波动
- 第三节 金融泡沫的形成
- 本章小结
- 思考与练习
- 第九章 股市横向回报之谜
- 第一节 股市横向回报之谜
- 第二节 传统金融学的解释
- 第三节 行为金融学的解释
- 本章小结
- 思考与练习
- 第十章 封闭式基金折扣与股市同步
- 第一节 封闭式基金折扣之谜
- 第二节 股市的同步走向现象
- 本章小结
- 思考与练习
- 第十一章 个人投资者的非理性投资行为
- 第一节 风险分散不足
- 第二节 交易行为
- 第三节 本地偏好
- 第四节 共同基金投资及业绩评估中的偏差
- 本章小结
- 思考与练习
- 第十二章 投资者非理性行为与公司理财
- 第一节 证券发行、资本结构与投资决策
- 第二节 公司股票上市之谜
- 第三节 分红之谜
- 本章小结
- 思考与练习
- 第十三章 管理者非理性行为与公司理财
- 第一节 购并
- 第二节 公司管理者的非理性与公司理财
- 本章小结
- 思考与练习
- 参考文献
FAQ
Can I read this book directly without a finance background?
Does this book mainly discuss theory or investment methods?
Will the market anomalies discussed in the book quickly become outdated?
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About the author
Public information about Li Guoping is limited; all that is known is that five of his works have been collected, spanning such categories as finance, society and culture, examinations, management, and inspirational growth. In finance his writing covers a broad range: books that introduce investment ideas, such as the collected edition of Beating the Street; an accessible guide to practical financial analysis, Reading Financial Reports and Understanding Companies; a theoretical treatment in Behavioral Finance; and The Art of War and Currency Wars: Classic Cases in Forex, Futures and Stocks, which reads traditional strategy alongside financial-market cases. He has also compiled Foreign Trade English Correspondence, a planned textbook for international business programs at vocational colleges, suggesting that his writing serves both general readers and classroom needs. Overall, his works emphasize explaining professional knowledge in plain, practical terms, making them suitable for beginners and for course use.
