证券市场异常现象，是指风险调整后证券收益率超过预期收益率的现象。
Security market anomalies refer to the particular phenomenon in which the risk-adjusted returns to securities in mind exceed the expected values.
实证中发现CAPM对许多诸如规模效应、惯性效应等的市场异常现象无法作出解释。
Empirical evidences show that CAPM cannot explain such market anomalies as size effect and momentum effect.
金融市场是一个典型的复杂系统，其复杂现象主要体现在金融变量的复杂特性和市场异常现象两个方面。
Financial market is a typical complex system, and its complex phenomena found expressions in the complexity of financial variable and abnormal phenomena of market.
金融市场的运作也发生了变化，市场异常现象预示着隐藏的结构性转变，许多资产价格被哄抬到危险的高水平。
The functioning of financial markets has also changed, with market anomalies indicating hidden structural 12 shifts, and many asset prices bid up to dangerously high levels.
金融市场上的异常现象大都可归纳为“反应不足”和“反应过度”这两种情况，本文将运用行为金融学来研究金融市场的风险资产的定价及市场反应特征。
Most exceptional phenomena belong to these two classes. This paper will use behavioral finance to study the reaction characteristics and the price of risking assets in the financial market.
IPO首日超额收益是证券市场上普遍存在的一种异常现象。
IPO on the first day the stock market excess returns is a common anomaly.
全文通过对我国权证市场现状特征进行分析，把行为金融理论与传统金融理论进行对比，剖析我国目前权证市场中许多“异常现象”。
Firstly we analyze the status characteristics of Chinese warrants market, and then introduce many "anomalies" through contrast behavioral finance theory to traditional financial theory.
全文通过对我国权证市场现状特征进行分析，把行为金融理论与传统金融理论进行对比，剖析我国目前权证市场中许多“异常现象”。
Firstly we analyze the status characteristics of Chinese warrants market, and then introduce many "anomalies" through contrast behavioral finance theory to traditional financial theory.
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