This paper put forwards the measures of rational and irrational herding of stock market, which are used to compare the herding difference between different stock markets.
结合最新的资产定价模型和股票市场羊群行为检验思路，提出了股票市场理性与非理性羊群行为检验方法，并将股票市场羊群行为实证研究扩展到不同市场之间的比较。
From the perspective of Behavioral Finance, herding is irrational due to security trader's mind and cognizance error.
而从行为金融学的角度分析，羊群行为是由交易者的心理活动和认知偏差引起的，它是非理性的。
From the perspective of Behavioral Finance, herding is irrational due to security trader's mind and cognizance error.
而从行为金融学的角度分析，羊群行为是由交易者的心理活动和认知偏差引起的，它是非理性的。
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