论文部分内容阅读
资本市场均衡理论均衡分析方法是新古典均衡分析方法在金融领域里的运用,其理论体系的分析框架、分析逻辑与分析方法与新古典均衡理论体系有着血脉上的传承关系,这有着两层含义:首先,资本市场均衡机制及其资产定价的研究工具和分析框架仍是在主流经济学的一般均衡分析框架之内,其理论体系建构是一致的,以理性选择为起点到市场均衡结束,有着思想和哲学方法论上的同源性;其次,由于分析对象与分析对象所处环境的不同,资本市场均衡理论相对于新古典均衡理论又有着子体脱离母体的新特点,诸如不确定性因素、预期因素、无套利均衡分析等成为资本市场理论建立的基础。
Equilibrium analysis of capital market equilibrium theory is the use of neoclassical equilibrium analysis in the financial field, the theoretical framework of the theoretical system, analytical logic and analytical methods and neoclassical equilibrium theory system has a blood inheritance relationship, which has two meanings : First of all, the research tools and analytical framework of the capital market equilibrium mechanism and its asset pricing are still within the framework of the general equilibrium analysis of the mainstream economics. The theoretical system construction is consistent. Starting from the rational choice, the market equilibrium ends. Ideology and philosophical methodology.Secondly, due to the difference between the environment in which the analytic object and the analytic object are located, the capital market equilibrium theory has new features of the progeny from the parent as compared with the neoclassical equilibrium theory, such as the uncertainty factor, Expected factor, arbitrage-free equilibrium analysis become the foundation of capital market theory.