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2010-01-05
In the real world, share prices are determined by assets’ fundamentals. Traditional finance theory offers only models which are not directly based on these fundamentals. Consequently, these models cannot be expected to explain real equity behaviour. Discuss.

恩,我想大家会看懂这段英文的,但是我还是想把中文的写出来,看我是否理解的正确
原题的意思是,因为股票价格是由资产的基本因素所决定,但是传统的金融理论不是直接在这些基本因素基础上建立的。所以这些模型不可能来解释真实股市的行为。讨论。

希望大家一起讨论,帮我解答一下,不胜感激
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2010-1-5 09:00:50
兄弟 我和你是同学
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2010-1-5 10:57:00
你可以看看行为金融学
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2010-1-5 14:36:57
Don't know what you mean by "traditional finance theory"? The theoretical asset price is the discounted value of future cash flow. But the realistic price is mainly determined by the relationship between the demand and supply of the underlying asset.
Also, you have to have an exact definition for the "fundamentals". Once you have that definition, you may argue that some important factors, which influence the asset price, are not included in the fundamentals.
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2010-1-5 19:45:06
with regarding to assets’ fundamentals ,it may inculde market liquidity,market size, dividend policy,corporate governance,capital structure etc. these factors are barely valued by traditional models.
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