基于同群效应视角的公司财务行为研究
Corporate Financial Behaviors: Perspective from Peer Effects Theory
Abstract
在自然界中,有机体的理性程度都是有限的,其并不能够随时做出最优化的选择和决策,但这种理性程度却足以使他们在复杂的生态环境中实现自我生存和发展。这种有限理性可称为“生态理性”。在生态理性的假设下,有机体不能也不会去追求最优化的决策。相反,在不确定性环境下,有机体的决策往往是其心理和环境结构相匹配的产物,即是一种“启发式”决策。在该决策模式下,有机体将根据外部生态环境的要求来判断其决策是否合理。同伴信息就是启发式决策的一条重要线索,并且个体行为会随着其同伴行为的变化而变化。这正是本文所要探究的同群效应的影响力。同群效应是指个体行为会受到某种参照群体行为和特征的影响。同群效应的理论已经广泛应用于社会... In nature, the extent of organism’s rationality is bounded, it’s unable to make optimal choices and decisions at any time, but this bounded rationality is enough to make them realize the self-survival and development in complex ecological environment. This type of bounded rationality is known as ecological rationality. The ecological rationality assumes organisms are less fuss in pursuing optimal ...