本研究回顧有關投資人情緒之相關文獻，包含投資人情緒之意義、影響投資人情緒之因素、投資人情緒之衡量方式以及投資人情緒對金融市場產生的影響，由這些文獻的探討可以提供市場參與者寶貴的啟示，甚具參考價值。
過去文獻研究的投資人情緒主要從樂觀與悲觀兩個角度，其影響為分別可能忽略壞消息與好消息，造成過度反應。影響投資人情緒的因素則有個人、自然環境與市場因素三類。目前常見的投資人情緒衡量指標有市場指標、氣候因素指標、消費者信心指數三種。最後，過去研究指出投資人情緒之影響主要針對股票報酬、分析師行為、基金績效與從眾行為等方面。

This study reviews literature which is related to investor sentiments, including the meanings of investor sentiments, the factors affecting investor sentiments, the indexes designed to measure investor sentiments, and the effects of investor sentiments. Discussion of these topics in literature can provide valuable insights and is very worthy of reference.
Pessimistic and optimistic are two viewpoints mainly mentioned in the past literature about investor sentiments. Their factors which influence investor sentiment usually include personal background, natural environment and market varieties. Nowadays, there are three common kinds of investor sentiment measure indexes, such as market parameters, climate factors, and consumer confidence indexes. Finally, the past studies points out that investor sentiment affect mainly focus on stock compensation, analysts, fund performance and herd behavior.

目錄I
表目錄II
第一章 研究動機與目的1
第一節 研究動機1
第二節 研究目的2
第三節 研究架構3
第二章 投資人情緒之涵義與影響因素4
第一節 投資人情緒之意義4
第二節 影響投資人情緒之因素5
第三章 投資人情緒之衡量13
第一節 市場類指標13
第二節 氣候因素類指標15
第三節 直接指標16
第四章 投資人情緒之影響22
第一節 對股票報酬之影響22
第二節 對分析師行為之影響23
第三節 對基金績效之影響24
第四節 對從眾行為之影響25
第五章 結論27
參考文獻28
表目錄
表3-1 投資人情緒衡量指標18

參考文獻
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