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研究生:羅仁明
研究生(外文):JEN-MING LO
論文名稱:投資人情緒相關研究之文獻回顧
論文名稱(外文):Literature Review for Related Research on Investor Sentiment
指導教授:歐仁和歐仁和引用關係劉永欽劉永欽引用關係
指導教授(外文):JENHO PETER OUYONG-CHIN LIU
口試委員:歐仁和劉永欽陳香如
口試委員(外文):JENHO PETER OUYONG-CHIN LIUHSIANG-JU CHEN
口試日期:2016-06-17
學位類別:碩士
校院名稱:亞洲大學
系所名稱:財務金融學系碩士在職專班
學門:商業及管理學門
學類:財務金融學類
論文種類:學術論文
論文出版年:2016
畢業學年度:104
語文別:中文
論文頁數:35
中文關鍵詞:投資人情緒市場指標氣候因素消費者信心指數
外文關鍵詞:investor sentimentmarket parametersclimate factorsconsumer confidence indexes
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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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