对外经贸大学边江泽“分析员,信息和泡沫,金融与定量分析”对外经济贸易大学是教育部直属的全国重点大学,国家“211工程”首批重点建设高校。对外经济贸易大学高级课程研修班根据学位委员会、教育部(2013)36号文件,自2014年起,原"课程研修班课程班"更改为"人员课程研修班",读研考生申请硕士学位流程及要求不变。
对外经贸大学边江泽“分析员,信息和泡沫,金融与定量分析”对外经贸大学边江泽等研究了2007年股市泡沫China.Using泡沫强度多种措施每只股票,我们发现股票显著较小的气泡对此有更大的分析师的覆盖范围。进一步的研究表明分析师报道的泡沫强度的减弱作用较弱时,有分析家之间的更大的分歧。这表明,在有气泡,一个通道,通过该分析师的覆盖可以减少气泡的转售选择理论线是通过协调投资者的信仰,从而降低其扩散。存货周转提供了这种特殊信息的机制是一致的进一步证据。以下是原文。
Abstract: We examine the 2007 stock market bubble in China.Using multiple measures of bubble intensity for each stock, we find significantly smaller bubbles in stocks for which there is greater analyst coverage. We further show that the abating effect of analyst coverage on bubble intensity is weaker when there is greater disagreement among analysts. This suggests that, in line with resale option theories of bubbles, one channel through which analyst coverage may mitigate bubbles is by coordinating investors’ beliefs and thus reducing its dispersion. Stock turnover provides further evidence consistent with this particular information mechanism.