行为财务学作为行为经济学的一个分支,与现代财务理论的理性分析框架相比,更注重人的实际心理和经济行为。行为财务学通过对现代财务理论缺陷的不断修正,在行为认知偏差、行为资产组合理论、期望理论、行为资产定价模型等方面取得了一定的研究成果,促进了行为财务学的研究进一步发展。 Behavioral finance, as a branch of behavioral economics, pays more attention to human’s actual psychology and economic behavior than the rational analysis framework of modern financial theory. Behavioral finance through the continuous correction of the defects of modern financial theory, behavioral cognitive bias, behavioral portfolio theory, expectation theory, behavioral asset pricing model has made some research achievements, and promote the further development of behavioral finance research.