中国金融学批判（非常专业）

其实学科分类倒不是重要问题，重要的是研究金融的本质问题，我不是学金融的，看了此贴很长见识，十分同意一位楼主的发言：金融的本质在于创新交易工具，提高交易效率。

撇出经济学的内涵，微观和宏观的区别仅在于研究角度和层面，体现在研究方法，宏观角度研究的深入同样能够进入微观的个体行为，就看你想不想深入。

我是学区域经济学的，学科存在的问题与金融学类似，现状、问题、对策形式实在不具有学术和理论意义，也不能给后人留下有价值的成果；目前的研究偏重宏观结构，缺乏微观机理，与金融学如出一辄！！！

看了一场很精彩的争论,开拓了眼界,也把一个以前一直没有思考的问题摆在面前.

I toally agree with the author's viewpoint.

人家就是专业嘛，国内有太少的教师懂实践操作

写的太好了

顶一下   

据我所了解,厦门大学王亚南经济研究院还是不错的!主要是金融计量方面!

＂大陆金融学者热中与搞政策研究。翻开大陆金融杂志，每篇文章几乎都是三段式的老套路：现状，问题，对策。缺乏理论深度＂

同意！

深有感触！

永远谦虚的向牛人学习。作为金融学人我们一起加油。以下是某些牛人的成果仅供参考

1. "Differences of Opinion and Speculative Trading in Stocks and Options," H. H. Cao and Hui Ou-Yang, 2008, Review of Financial Studies.

2. “Inventory Information,” H. H. Cao, Martin Evans and Rich Lyons, Journal of Business, 2006, 79：325-364.

3. “Model Uncertainty, Limited Market Participation and Asset Prices,” H. H. Cao, Tan Wang and Harold H. Zhang, Review of Financial Studies, 2005，1219 - 1251.

4. “The Dynamics of International Equity Market Expectations,” Michael J. Brennan, H. H. Cao, Norman Strong and Xinzhong Xu, Journal of Financial Economics, 2005，257-288

5. “Product Strategy for Innovators in Markets with Network Effects,” Sun, B., Xie, J. and H. H. Cao, Marketing Science, 2004, 243-254.

6. “Sidelined Investors, Trading-Generated News, and Security Returns,” H. H. Cao, J. Coval and D. Hirshleifer, Review of Financial Studies, 2002, 15, 615-648.

7. “Imperfect Competition Among Informed Traders,” K. Back, H. H. Cao and G. Willard, Journal of Finance, 2000, 5, 2117-2155. Nominated for Smith-Breeden Prize.

8. “The Effect of Derivative Assets on Endogenous Information Acquisition and Price Behavior in a Rational Expectations Equilibrium,” H. H. Cao, Review of Financial Studies, 1999, 12, 131-163.

9. “International Portfolio Investment Flows,” Michael J. Brennan and H. H. Cao, Journal of Finance, 1997, 52, 1851-1880, Nominated for Smith-Breeden Prize. Best paper award in emerging market research at NFA. Reprinted in International Library of Critical Writings in Financial Economics, Edited by Richard Roll.

10. “Information, Trade, and Derivative Securities,” Michael J. Brennan and H. H. Cao, Review of Financial Studies, 1996, 9, 163-208.

 

"Stocks as Lotteries: The Implications of Probability Weighting for Security Prices," with Nicholas Barberis, American Economic Review, December 2008.

"The Loss Aversion / Narrow Framing Approach to the Equity Premium Puzzle," with Nicholas Barberis, in Handbook of the Equity Risk Premium, edited by Raj Mehra, Elsevier, 2008.

"Individual Preferences, Monetary Gambles, and Stock Market Participation: A Case for Narrow Framing," with Nicholas Barberis and Richard Thaler, American Economic Review 96, pp 1069-90, September 2006.

"Talking up Liquidity: Insider Trading and Investor Relations," with Harrison Hong, Journal of Financial Intermediation 14, pp 1-31, January 2005.

"Does Fund Size Erode Performance? Liquidity, Organizational Diseconomies and ActiveMoney Management," with Joseph Chen, Harrison Hong, and Jeffrey D. Kubik, American Economic Review 94, pp 1276-1302, December 2004.

"Liquidity Shocks and Equilibrium Liquidity Premia," Journal of Economic Theory 109, pp 104-129, March 2003.

"Mental Accounting, Loss Aversion, and Individual Stock Returns," with Nicholas Barberis, Journal of Finance 56, pp 1247-1292, August 2001.

"Prospect Theory and Asset Prices," with Nicholas Barberis and Tano Santos, Quarterly Journal of Economics 116, pp 1-53, February 2001. (Lead article of the issue; Awarded the 2000 FAME Research Prize; Collected into Advances in Behavioral Finance, Vol. 2, edited by Richard Thaler.)

"Toeholds and Takeovers," with Jeremy Bulow and Paul Klemperer, Journal of Political Economy 107, pp 427-454, June 1999.

"Swap Rates and Credit Quality," with Darrell Duffie, Journal of Finance 51, pp 921-949, July 1996.

各位讨论的热火朝天，基本上把中美金融学教学和学术的差异都讲清楚了。不过有一点，如果你学金融想在国内实务界混饭吃，而不是去国际杂志发文章的话，国外那套东西基本没用，越复杂（也是所谓越“科学”的）就越没用。