China's Securities Market And Investor Behavior Research

Based on the new understanding of"investor behavior", the paper mainly utilizes elementary theories of modern behavior finance and the analytic methods based on them to probe into several elementary theories of investors'psychological factors and behavior deviation as well as their rational degree. Moreover, the author combines these theories with the investor's actual behavior to perform empirical research.In order to promote the securities market to develop along the healthy way and to perfect the theories of the capital market and the investors'behavior in China, the author tried to propose some useful politic proposals which could resolve the problem of the investors'"limited rationality"in Chinese securities market and could standardize investors'behavior, and then enhance their investment achievements.The paper consists of seven parts, and the brief contents of the paper are as the follows:Partâ… is the introduction of this paper. The first step is to raise question which needs to study from the angle of the interaction between investors'behavior and the securities market. The question is whether investors'decision-making behavior could be influenced by investors'psychological factors. The author points out that the traditional financial theories regard the investor as perfect rationality because of the negligence of the psychological factors'influences on investors'decision-making behavior. Then, The author points...