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我国证券市场羊群行为的特征趋同性。我国证券市场是一个新兴的市场,大部分个体投资者并不具备投资的专业知识,而个体投资者的交易占据了交易的绝大多数,导致我国证券市场相对其他成熟市场更易出现羊群行为。与个体投资者相比,机构投资者拥有更为准确的市场信息和丰富的专业知识,再加上我国证券市场的主体是个体投资者,这就为机构投资者利用散户投
The Characteristic Convergence of Herding Behavior in China Security Market. China’s securities market is a new market, most individual investors do not have the investment expertise, and individual investors account for the vast majority of transactions, leading to the stock market in China relative to other mature markets more vulnerable to herding behavior. Compared with individual investors, institutional investors have more accurate market information and rich professional knowledge, coupled with the main body of China’s securities market is an individual investor, which for institutional investors using retail investors