昆士兰代写assignment:市场异象

2017-02-08 00:23

总之，市场异象的存在在理论上和实践上都有一个共识，尽管有学者认为这种金融市场现象是由于数据库审查。这些想法和尺寸效应是一样的。并没有达成共识的大小效应的原因。无论是规模效果真是自身或代理等因素在资本资产定价模型是高度争议，但没有得出最后。虽然规模效应的实证研究表明，金融市场的效率低下，没有任何理论基础。一个明显的结果是利润异常。所以对于投资者来说，利用规模效应可能会让投资获利更多。但由于规模效应和要素间相互作用的原因在某些时期和股票市场中并不明确，投资者和管理者对投资没有固定的策略。通过对周期和市场的分析，结合相关因素，投资者和管理者利用规模效应无疑可以获得更多的利润。

昆士兰代写assignment:市场异象

In conclusion, there is a consensus in the existence of the market anomalies theoretically and practically, though some scholars believe that this financial market phenomenon is due to the databases examined. Those ideas are the same to the size effect. And there is no consensus of the reasons for the size effect. Whether the size effect is really itself or only a proxy for other missing factors in the CAPM is highly debated, but no conclusions are made finally. Though the empirical study of the size effect suggests the inefficiency of the financial market, there is no theoretical base. An obvious result is the abnormal profit. So for the investors, taking advantage of the size effect will probably make investments more profit. But as the reasons for the size effect and the interactions among factors are not clear in certain periods and equity markets, there are no fixed strategies to investments for investors and managers. By analyzing the periods and markets respectively and combining the related factors together, there is no doubt that investors and managers can make more profit possible by taking advantage of the size effect.

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