?Abstract? Modern financial theory to solve two questions: First, the adoption of optimal decision-making model to explain what are the optimal decision-making; are two decision-making through the description of the actual model of investor decision-making process. Modern financial theory to solve the first problem at the achievements are undeniable, but on the second question, modern financial theory and practice has very different circumstances, it is a very good decision-making and should not follow the optimal decision-making model. In order to better explain and predict the financial mainstay of the actual decision-making process (rather than optimal decision-making model), as well as the actual operation of the financial market conditions, to absorb the financial study of psychology, history and sociology of knowledge, such as the development of a new research paradigm , that is, behavioral finance, it is the behavioral science and Finance study the formation of the edge of the combination of disciplines. Behavioral Finance at the expectations set up the basis of the theory, development and extension of the modern financial theory.It can be said that the standard financial theory, in its production and gradually improve only if the course of medicine, effective treatment for a lot of capital market in the ?disease? of the capital market and the normal operation of the sound has played a small role. But the world is not a panacea, the standard financial theory of capital markets can not solve all the questions. When the capital market such as the calendar effect of frequent, IPO premium fan of closed-end funds and other ?illnesses?, the standard financial theory appeared to be inadequate and feeble. Based on this situation, and many scholars from the standard financial theory to wake up in the obsession, to re-start their thinking and positioning, and to examine the kind of ?new drugs? ? behavioral finance theory ready.Behavioral Finance in China about a late start of the study, the research has been mostly concentrated on the synthesis of behavioral finance theory and the use of behavioral finance to explain the various phenomena on the securities market, the lack of the behavioral finance theory applies to companies in financial management research. This article is from the theoretical study of behavioral finance at home and abroad on the basis of the financial system to sort out the theoretical system of behavior, and with the traditional theory of financial systems, and behavioral finance theory, respectively, compared with the traditional financial theories about corporate finance policies, investment policy, dividend distribution policy of these companies the distinction between content management and on this basis, focuses on behavioral finance theory in the company?s financial management application, so as to provide our country against the company a non-fully rational decision-makers and non-efficient market fiscal strategy. Significance of this study is that through the study of the introduction of behavioral finance to investors in the investment decision-making process in the cognitive, emotional, psychological characteristics such as attitude and the resulting non-effective market research, market effectively to explain phenomena, and a non-rational and the market inefficiency of the status of assets under management. It can be said that it is a kind of modern financial theory of change and innovation. Therefore, the study of behavioral finance in the enterprise financial management of applied research on a very important practical significance. For selection, this paper studies the use of the norms of law, conduct research and theory with practice to carry out the methods discussed.This article is divided into six major parts: The first part is preface, introduction of the thesis research background and significance, literature review, research ideas and methods, and research; the second part is about the theory of behavioral finance system, including behavioral finance theory and the development of behavioral finance theory challenges the traditional financial theory, behavioral finance theory of the basic theory, the theory of behavioral finance research system, behavioral finance theory, as well as the theoretical model of behavioral finance theory and practical significance; third part discusses the Perspective of Behavioral Finance corporate finance policies, including the financing of modern financial theory of policy analysis, behavioral finance theory and policy analysis of the financing of listed companies in our country financing preference analysis; fourth part of the Perspective of Behavioral Finance?s investment policies, including review of the traditional investment theory, the company internal investment policies, investment policies outside of the impact from the Perspective of Behavioral Finance Investment Strategy; fifth part discusses the perspective of behavioral finance companies under the dividend policy, including the traditional dividend Theory, Behavioral Finance from the Perspective of the dividend policy China?s dividend policy of listed companies and non-rational analysis of the status quo; sixth part of the article are summarized, including the conclusion of the study of this article, innovation, inspiration, as well as theoretical research study on the future outlook.In this paper, theories of behavioral finance system on the basis of carding, focuses on behavioral finance theory in the company?s financial management application, and a breakthrough in the following aspects:?The traditional financial theory and behavioral finance theory of comparative systems.?The oretical analysis of the use of Behavioral Finance Corporate Finance in the financing policy, investment policy, dividend distribution policy.?Combination of listed companies in our country the practice of behavioral finance theory with the rights and interests of the financing of their preference, investment strategy and the selection of preferred stock dividends for the behavior analysis.
Title: Corporate Finance Research in Behavioral FinanceCategory: Management economics
Filename: Corporate Finance Research in Behavioral Finance.pdf
Pages: 127
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