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美国犹他大学exam代考、论文代写：中国市场研究分析
Based on the analysis of the case study mentioned above related to the market of China, evidence have been found for irrational herding taking place in the equity markets of China. It has also been observed that the behaviour of herding is more evident to occur amongst investors of class B share market who are less informed in comparison with the investors in the class A share market (Chiang & Zheng 2010). In addition to this, investors hold the tendency of behaving in a different manner within the down and up market as there is an involvement of a number of restrictions related to shorter amount of sales in the markets of China. Considering the daily data of prices in stock for the whole population of organizations in China and the equally weighted index of the market and the year end capitalization in the market for all organizations from the stock market of China and in the research database of accounting (Morck1989), it has been understood that the herd behaviour amongst investors in China is a phenomenon living for a short period of time. In addition to this, it has been stated by Chang et al. (2000) that with the involvement of inappropriate ways for disclosing information, participants of the market, particularly investors, hold the tendency of lacking the basic information related to the organization. This can be considered as the cause of trade in accordance with a number of signals. Investors in class B shares are international investors. International shareholder has been seen to be suffering from major problems related to the information asymmetry in comparison with the local shareholders (Kutan 2006). This can be considered as one of the key reasons due to which investors show preferences towards making local investment in comparison with the global investment, irrespective of the obvious and apparent benefits that can be introduced by diversification. In addition to this, class B of market shares have been facing serious issues with respect to illiquidity. Partly this is because of the nature being carried out by their ownership restrictions and types (Naik1995). This is considered to be the key reason due to which shares from class B are given a price with discount to the shares of class A category. This is due irrespective of the point that both of them have been carrying equal rights related to the flows of cash. Hence, this proves the irrationality of herding behaviour.
基于上述对我国商场的相关状况研讨分析，证据被发现的非理性的羊群效应在我国股市产生。也有人观察到，与B类股票商场的出资者比较，B类股票商场的出资者在知情状况下更简单呈现羊群行为（Chiang和郑2010）。此外，出资者持有的行为以不同的方法在下跌和上涨的商场有一批在我国商场较短的销售相关约束参与的趋势。考虑到日常数据的股价在我国安排的整个人口和平均加权指数的商场，从我国股市的一切安排的商场和会计研讨数据库年末市值（morck1989），据了解，在我国出资者中的羊群行为是一种现象，一段时间的日子。除此之外，Changetal已经说过了。（2000）由于商场信息披露方法不妥，商场参与者，特别是出资者，往往缺少与本安排有关的基本信息。这能够看作是根据许多信号进行交易的原因。B类股票的出资者是世界出资者。世界股东被看作是遭受到与当地股东比较信息不对称问题（苦叹2006）。这能够被看作是一个要害原因，由于出资者不喜欢与全球出资比较，对当地出资进行偏好，而不考虑多样化带来的显着和显着的好处。除此之外，商场份额B类已面临流动性不足的问题就严重。这部分是由于自然被他们的一切权的约束和类型进行（naik1995）。这被认为是要害原因，由于B类股票的价格与A类股票折价。这是由于不论他们两人是否拥有与现金流动有关的平等权利。因而，这证明了羊群行为的不合理性。
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