摘要
以我国的“A+H”股在内地和香港两个资本市场上“同股不同价”的表现为切入点,以中国拥有“A+H”股条件的主要保险公司为研究对象,从行为金融学的理论出发,从时间和空间等多维度数据挖掘分析,对其“同股不同价”的原因进行剖析。分析发现,保险股“A+H”股“同股不同价”的深层次原因在于投资者在认知上存在偏差,而造成这种偏差的原因是多方面的。
This paper take China's"A+H"shares as the breakthrough point for the"same share with different prices"in two capital markets of the mainland and Hong Kong of China,and choose main insurance companies keeping"A+H"shares as the research object.Based on the basic theory of the Behavioral Finance,we anatomize the reason of"same share with different prices"through the sufficient multidimensional data mining analysis including time and space.It is found that the underlying reason of the"same share with different prices"of"A+H"insurance stocks lies in the cognitive deviation of investors,which is caused by various reasons.
作者
方建武
方珍妮
Fang Jianwu;Fang Zhenni(International Business School,Shaanxi Normal University,Xi’an 710039,China;Harfor Fund Management Co.,Ltd,Shanghai 200120,China)
出处
《金融理论探索》
2019年第5期65-71,共7页
Exploration of Financial Theory
关键词
"A+H"股
保险股
孪生股票
行为金融学
认知偏差
"A+H"share
insurance stock
twin stock
behaviroal finance
cognitive behavior bias
