Investor Overconfidence and Stock Price Crash Risk-Evidence from Chinese Stock Market

被引：0

作者：

Yang, Xin ^{[1
]}

Hou, Jukai ^{[2
]}

Yi, Xiajun ^{[3
]}

机构：

[1] Sun Yat Sen Univ, Nanfang Coll, Sch Business, Guangzhou, Guangdong, Peoples R China

[2] Open Univ Nanhai, Sch Business, Foshan, Peoples R China

[3] Guangzhou Vocat Coll Sci & Technol, Sch Finance & Econ, Guangzhou, Guangdong, Peoples R China

来源：

2018 5TH INTERNATIONAL CONFERENCE ON BEHAVIORAL, ECONOMIC, AND SOCIO-CULTURAL COMPUTING (BESC) | 2018年

关键词：

Investor Overconfidence; Stock Misvaluation; Stock Price Crash Risk; Chinese Stock Market;

D O I：

10.1109/BESC.2018.00047

中图分类号：

TP39 [计算机的应用];

学科分类号：

081203 ; 0835 ;

摘要：

This article investigates the relationship between investor overconfidence behavior and stock price crash risk. Overconfidence is the common cognitive bias of human beings, certain degree of overconfidence in the financial market leads investors to overestimate their own capability and underestimate risk and volatility. The results suggest that investor overconfidence behavior contributes to the future stock price crash risk, and investors are more overconfident and stock price crash risk is higher in the bullish market than in the bearish market.

引用

页码：193 / 196

页数：4

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