| 中国股票市场反向利润的来源分析 |
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| 引用本文： | 胡昌生,肖小锋,汪建国.中国股票市场反向利润的来源分析[J].预测,2004,23(5):78-80,67. |
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| 作者姓名： | 胡昌生 肖小锋 汪建国 |
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| 作者单位： | 武汉大学,商学院金融系,湖北,武汉,430072 |
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| 摘 要： | 本文回顾了国外反向理论的主要研究成果，并结合中国的实际从理论上探讨了中国证券市场反向利润的来源问题、实证表明，中国证券市场的反向利润绝大多数源于股票的反应过度，有少部分源自共同因素在时间序列上的负相关。
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| 关 键 词： | 反向利润 来源 反应过度 共同因素 |
| 文章编号： | 1003-5192(2004)05-0078-03 |
On the Sources of Contrarian Profits in Chinese Stock Market |
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| HU Chang-sheng,XIAO Xiao-feng,WANG Jian-guo.On the Sources of Contrarian Profits in Chinese Stock Market[J].Forecasting,2004,23(5):78-80,67. |
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| Authors: | HU Chang-sheng XIAO Xiao-feng WANG Jian-guo |
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| Abstract: | The author reviews main literatures of the contrarian theory abroad. Theoretically, the sources of contrarian profits in Chinese stock market are discussed in combination with Chinese practice. Empirical evidence shows that the majority of contrarian profits in Chinese stock market are due to overreaction while a small part is due to negative correlation of common factor in time series. |
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| Keywords: | contrarian profits sources overreaction common factor |
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