Asset Pricing, Signal Type and Overconfident Investors

最近金融市场的泡沫，以及对金融资产估值是否正确的其他担忧，导致了对金融市场信心的下降。本研究通过关注价格形成过程中的潜在偏差，将为这一重要主题提供强有力的见解。该项目涵盖三个主要的股票市场，将为政府和证券交易所设计有关公司披露的监管政策提供重要指导。鉴于对资助的退休金/养恤金计划的需求增加，对资本市场进程的信心增加将有利于成功的资助计划的发展。

Recent bubbles in financial markets and other anxieties with regard to whether financial assets are correctly valued have led to a reduction in the confidence in financial markets. This study, by focussing upon potential biases in the price formation process, will provide strong insights into this important topic. In covering three major equity markets, the project will provide important guidance for the design of regulatory policies on corporate disclosure by both Governments and Stock Exchanges. Given the increased need for funded superannuation/pension schemes, an increase in the confidence in capital market processes will benefit the development of successful funded schemes.