So I use behavioral explanation to explain the BM effect: the BM effect is only because market overreaction to intangible information.

从行为金融方向解释，认为账面市值比效应是市场对账面市值比指标中包含的无形信息过度反应的结果。

youdao

So I use behavioral explanation to explain the BM effect: the BM effect is only because market overreaction to intangible information.

从行为金融方向解释，认为账面市值比效应是市场对账面市值比指标中包含的无形信息过度反应的结果。

youdao