全球智库信息集成服务系统(G2TT): Speculative Behavior in the Stock Markets: Evidence from the United States and Japan

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w3613
来源ID	Working Paper 3613
	Speculative Behavior in the Stock Markets: Evidence from the United States and Japan
	Robert J. Shiller; Fumiko Kon-Ya; Yoshiro Tsutsui
发表日期	1991-02-01
出版年	1991
语种	英语
摘要	There have been enormous differences of opinion between U.S. and Japanese institutional investors about the outlook for stock prices, differences across the two countries in average one-year-ahead forecasts for the Japanese stock market as great as twenty percentage points. In the past two years most Japanese and U.S. institutional investors have had expectations for a reversal of trends in the stock market, and advised an investing strategy that depended on getting out of (or in to) the market before an anticipated market turnaround. These results, obtained from a number of questionnaire surveys in 1989 and 1990, help explain the relative lack of portfolio diversification across countries and show the short-term nature of speculative behavior.
URL	https://www.nber.org/papers/w3613
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/560920
推荐引用方式 GB/T 7714	Robert J. Shiller,Fumiko Kon-Ya,Yoshiro Tsutsui. Speculative Behavior in the Stock Markets: Evidence from the United States and Japan. 1991.