摘要
近年来,全球文化艺术消费日益构成经济活动的一个重要部分,艺术品也逐步展现出其作为一种特殊投资品的吸引力。本文通过对大量既有文献的研究得出以下结论:首先,艺术品市场的独特金融属性源于艺术品的多重属性以及艺术品市场的特性;其次,艺术品的价值评估和价格决定不同于一般金融资产,必须持"二分"的观点;第三,艺术品市场中存在诸多异象,这说明其信息效率较低;最后,艺术品的风险收益特征尚不明确,有待进一步深入研究。本文的目的并不止于对文献的考察,而是力图指出既有研究的不足,并给出我国建立艺术品经济理论的建议和未来研究展望。
In recent years, the global consumption on the art industry has increasingly become an important part of the real economic activity, and investors begin to regard artistic goods as special assets. This paper studies different threads of literature and gets to the conclusions: firstly, the financial attributes of the art market originate from the specialty of artistic goods and the art market; secondly, in the art market, value appraisal and price determination is quite different from other financial assets; thirdly, anomalies in the art market indicate the low efficiency; fourthly, no consensus is reached towards the risk-return feature of the art market. The literature review puts forward suggestions on the construc-tion of China's own cultural and artistic economics and gives directions and topics for further research.
出处
《金融评论》
CSSCI
2014年第3期91-110,126,共20页
Chinese Review of Financial Studies
基金
中国人民大学中国艺术品金融研究所研究课题"艺术品金融化模式及金融创新研究"(RUC13CAFI003)的阶段性成果