摘要
基于行为金融学理论,从有限理性、羊群效应和过度自信的角度,通过对游戏驿站(GME)事件的梳理,分析了机构投资者与个人投资者行为之间的矛盾、影响及其启示。这场博弈扭曲了股价的意义,扰乱了资本市场的秩序。分析得出:公司基本面和发展潜力才是决定其发展的要素,要注重投资者教育,协调个人投资者和机构投资者的关系,增强社交媒体监管,对线上交易平台进行合理管控,正确引导网络时代的投资,正确认识投资者的影响和局限性,重视公司基本面。
Based on the theory of behavioral finance,from the perspective of bounded rationality,herd effect and overconfidence theory,this paper analyzes the contradictions,influences and implications between institutional and individual investors by analyzing the GameStop(GME)event.This game distorts the meaning of stock price and disturbs the order of capital market.The analysis shows that the fundamentals and development potential of a company are the factors that determine its development.It is necessary to focus on investor education,coordinate the relationship between individual and institutional investors,strengthen the regulation of social media,conduct reasonable control over online trading platforms,correctly guide investment in the network era,pay attention to the influence and limitations of investors,and to the fundamentals of a company.
作者
黄佳宁
安佳琪
Huang Jianing;An Jiaqi(School of Business,Nankai University,Tianjin 300071,China)
出处
《金融教育研究》
2023年第3期28-37,共10页
Research of Finance and Education
基金
国家社会科学基金项目“金融创新背景下多目标公司治理投资支持实体经济研究”(18GBL063)。
关键词
机构化
游戏驿站
投资者教育
理性投资
网络媒体
Institutionalization
GameStop
Investor education
Rational investment
Online media
