Research On The Investment Decision-making Under The Framework Of Behavioral Corporate Finance Theory

The traditional finance theory takes the rational person supposition and the effective market hypothesis as a foundation. However, along with the capital market movement and investor behavior understanding gradually thorough, the people discover these two basic suppositions on the one hand to be very difficult in the reality satisfy, on the other hand in the market also appeared the market different explain which some traditional finance theories cannot explain. To interpret practical financial behaviors better, behavioral finance has arisen with the development of experimental economics, economic psychology and behavioral economics based on the two disciplines mentioned above. Behavioral finance discusses the psychological characteristics, such as cognition, emotion and attitude, in the process of investment decision making, and the inefficient market caused by them.The article takes the behavior finance theory and it applies in the investment as the research object, the model overseas behavior finance study research results, unifies our country actual situation, manages finances the application to the behavioral finance study in the investment to conduct the research. The article mainly contains five parts. The first one is an introduction to the background and significance of the article, the generalization, the thought and methods, and the contents of the research. The second part is a systematical presentation of behavioral finance theory and traditional finance theory. The third part and the fourth part are the body of the article, talking about behavioral finance theory in corporate investment policy application. Mainly elaborated in the company exterior some to the corporate investment policy influence factor and some corresponding measure suggestions. The fifth part is a summary, including the research conclusion, the revelation of the theoretical research, and the outlook of future studies.