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行为公司财务中的管理者行为

张 浩, 张 维

张 浩, 张 维. 行为公司财务中的管理者行为[J]. 北京航空航天大学学报社会科学版, 2005, 18(4): 13-16.
引用本文: 张 浩, 张 维. 行为公司财务中的管理者行为[J]. 北京航空航天大学学报社会科学版, 2005, 18(4): 13-16.
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ZHANG Jie, ZHANG Wei. Manager's Behavior in the Theory of Behavioral Corporate Finance[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2005, 18(4): 13-16.
Citation: ZHANG Jie, ZHANG Wei. Manager's Behavior in the Theory of Behavioral Corporate Finance[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2005, 18(4): 13-16.
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行为公司财务中的管理者行为

  • 天津大学 管理学院,天津 300072

详细信息

  • 中图分类号: F275

Manager's Behavior in the Theory of Behavioral Corporate Finance

  • School of Management, Tianjin University, Tianjin 300072,China

摘要

    摘要
  • 摘要: 正如行为金融学能够解释资本市场中的许多异常行为一样,行为公司财务能够很好 解释公司财务决策中的许多异常行为。这些异常行为的产生,或是因为受到资本市场上投资 者的非理性行为的影响,或是企业管理者本身的非理性行为所至。文章从管理者行为的角度 ,阐述了行为公司财务研究的主要内容。
    Abstract: Just as behavioral corporate finance can provide a good explanation fo r the abnormal behavior of corporate financing, behavioral finance can work well with the explanation of the abnormal behavior of the firm's financial decision. The paper points out that the abnormal behavior may have stemmed from either th e investor's or the manager's irrationality, and interprets the core content of behavioral corporate finance in terms of managers' behavior.
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    • 参考文献(15)
  • [1] 朱武祥. 行为公司金融:理论研究发展及实践意义[J]. 证券市场导报, 2003, (5): 53-58.
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    [3] Stein, Jeremy C. Rational Capital Budgeting in an Irrational World[J]. Journal of Business, 1996,69.
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    [6] Polk C, Sapienza P. The Real Effects of Investor Sentiment . http ://www.nber.org/papers/W10563,2004-09-08.
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    [8] Baker M, Wurgler J. A Catering Theory of Dividends[J]. Journal of Finan ce, 2004, 59(3):1125-1165.
    [9] Gevais S, Heaton J B, Odean T. The Positive Role of Overconfidence and Op timism in Investment Policy . Philadelphia: University of Pennsylvania, 2002 .
    [10] Heaton J B. Managerial Optimism and Corporate Finance[J]. Financial Managment (Summer), 2002, 22: 33-45.
    [11] Roll R. The Hubris Hypothesis of Corporate Takeovers[J]. Journal of Bu siness, 1986, 59(2): 197-216.
    [12] Malmendier U, Tate G. CEO Overconfidence and Corporate Investment . Palo Alto, CA: Stanford University, 2002. 15-58.
    [13] Tate G. Who Makes Acquisitions CEO Overconfidence and the Market's Reac tion . Cambridge, MA: Harvard University, 2002. 11-53.
    [14] Hackbarth D. Determinants of Corporate Borrowing: A Behavioral Perspecti ve . 2004-10-01.
    [15] Hackbarth D, Malmendier U, Tate G. CEO Overconfidence: Good or Bad News for the Pecking Order Theory . Berkeley: University of California, 2002. 3- 49.
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出版历程
  • 收稿日期:  2004-07-29
  • 发布日期:  2005-12-24

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摘要
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