The Development Of Behavioral Financial Theory And The Analysis Of Chinese Securities-investor's Behavior

Behavioral Finance is a new developing theory that is rising in eighties 20th century. It has expanded its influence constantly in recent years, and has formed the powerful challenge to the Classic Financial Theory. On the basis of absorbing the domestic and international research results extensively, this paper comprehensively introduces the development and innovation of Behavioral Finance and has a deep research in the practice of this theory, so as to make a foreshadowing for applying this theory to solving the practical problems of our country. Then this paper applies Behavioral Finance to studying the Investor's Behavioral Biases in Chinese Securities Market and concludes five typical kinds of Psychology or Behavioral Biases. Finally, This paper makes a discussion on how to investigate more about the Behavioral Finance's vitality and its further research space in our country, and how to use this theory to perfect investor's behavior. What I have done above is expected to make it have certain reference value for perfecting Investor's Behavior or other Behavior in economic area, and further researching into Behavioral Finance.