本文選題：信息傳播 + 雙重網(wǎng)絡(luò)　； 參考：《湖南大學(xué)》2014年碩士論文

【摘要】：隨著信息時(shí)代的到來，信息傳播的地位和作用日趨重要，深刻地影響著我國(guó)社會(huì)的各個(gè)領(lǐng)域。尤其，金融市場(chǎng)中信息的傳播會(huì)導(dǎo)致市場(chǎng)波動(dòng)，甚至造成金融危機(jī)。由于金融市場(chǎng)中作為信息傳播者的投資者行為的不可測(cè)性和復(fù)雜性以及信息傳播途徑的復(fù)雜性、多樣性等因素，信息傳播過程必然是復(fù)雜系統(tǒng)演化的過程，導(dǎo)致使用傳統(tǒng)的數(shù)理方法很難描述市場(chǎng)投資者的微觀行為和信息傳播過程。雖然已有部分學(xué)者運(yùn)用計(jì)算實(shí)驗(yàn)方法對(duì)信息傳播進(jìn)行了研究，但是由于投資者行為不可測(cè)性和信息傳播復(fù)雜性的限制，導(dǎo)致了現(xiàn)有對(duì)股票市場(chǎng)信息傳播風(fēng)險(xiǎn)的研究還不充分。 針對(duì)股票市場(chǎng)信息傳播風(fēng)險(xiǎn)的形成機(jī)理問題，本文利用計(jì)算實(shí)驗(yàn)方法，在分析總結(jié)前人研究成果的基礎(chǔ)上，結(jié)合現(xiàn)實(shí)股票市場(chǎng)信息傳播的特點(diǎn)，構(gòu)建了基于雙重網(wǎng)絡(luò)的信息傳播實(shí)驗(yàn)?zāi)Ｐ�，進(jìn)而建立仿真實(shí)驗(yàn)金融平臺(tái)，以實(shí)驗(yàn)的方式深入研究股票市場(chǎng)信息傳播風(fēng)險(xiǎn)問題。 本文通過把仿真實(shí)驗(yàn)的結(jié)果與真實(shí)市場(chǎng)進(jìn)行對(duì)比分析后認(rèn)為，股價(jià)收益率呈現(xiàn)出尖峰厚尾的特征，并且具有較明顯的波動(dòng)聚集性，，驗(yàn)證模型是有效的。進(jìn)一步討論了風(fēng)險(xiǎn)因子對(duì)市場(chǎng)的流動(dòng)性和波動(dòng)性的影響方式及大小。研究發(fā)現(xiàn)，市場(chǎng)信息發(fā)布頻率越小，信息透明度越高，市場(chǎng)的流動(dòng)性越強(qiáng)，波動(dòng)性越弱，此時(shí)市場(chǎng)的風(fēng)險(xiǎn)最��；而信息傳播網(wǎng)絡(luò)、交易者反饋信息的概率和學(xué)習(xí)速度對(duì)市場(chǎng)流動(dòng)性和波動(dòng)性的影響則沒有得到一致的結(jié)果。最后，根據(jù)得出的實(shí)驗(yàn)結(jié)果，并針對(duì)我國(guó)信息披露制度存在的問題，提出了政策建議。
[Abstract]:With the coming of the information age, the status and function of information dissemination is becoming more and more important, which deeply affects every field of our society. In particular, the spread of information in the financial market will lead to market volatility, or even financial crisis. Due to the unpredictability and complexity of investors' behavior as information communicators in financial markets, and the complexity and diversity of information transmission channels, the process of information dissemination is bound to be a process of complex system evolution. It is difficult to describe the microcosmic behavior of market investors and the process of information dissemination by using traditional mathematical methods. Although some scholars have used computational experiments to study information dissemination, due to the unpredictability of investor behavior and the complexity of information dissemination, the existing research on the risk of information dissemination in stock market is not sufficient. In view of the formation mechanism of information communication risk in stock market, this paper uses computational experiment method, based on the analysis and summary of previous research results, combined with the characteristics of information dissemination in the real stock market. The experimental model of information dissemination based on dual network is constructed, and then the financial platform of simulation experiment is established. The risk of information dissemination in stock market is studied in depth by means of experiments. By comparing the results of the simulation experiment with the real market, it is concluded that the stock price yield shows the characteristics of peak and thick tail, and has obvious volatility and aggregation, which proves that the model is effective. The influence of risk factors on market liquidity and volatility is discussed. The study found that the smaller the frequency of market information release, the higher the transparency of information, the stronger the liquidity of the market and the weaker the volatility. The effect of feedback probability and learning speed on market liquidity and volatility is not consistent. Finally, according to the experimental results, and in view of the problems of information disclosure system in China, the policy recommendations are put forward.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F224;F830.91

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