“商学大讲堂”系列学术讲座〡第231讲:学术名家讲坛（54）

讲座题目：Dynamic trading with realization utility 主讲嘉宾：秦聪 时间：2023年11月28日（星期二 ）下午14:00—16:00 地点：商学院116东方厅 欢迎感兴趣的师生参加聆听！ 江南大学商学院 2023年11月24日 主讲嘉宾简介 秦聪，苏州大学金融工程研究中心副教授，苏州大学首届优秀青年学者，研究方向为金融工程、金融科技、行为金融等。担任中国运筹学会金融工程与金融风险管理分会常务理事，中国优选法统筹法与经济数学研究会量化金融与保险分会理事。先后主持国家自然科学基金青年项目1项 、江苏省自然科学基金青年项目1项以及江苏省高校面上基金1项。2019年获得中国运筹学会金融工程与金融风险管理分会青年学者最佳论文奖，其研究成果发表或接受发表在金融学Top期刊Journal of Finance, 金融工程Top期刊 Mathematical Finance, 以及金融工程核心期刊SIAM Journal on Financial Mathematics等。 讲座主要内容 An investor receives utility bursts from realizing gains and losses at the individual-stock level (Barberis and Xiong, 2009, 2012; Ingersoll and Jin, 2013) and dynamically allocates his mental budget between risky and risk-free assets at the trading-account level. Using savings, he reduces his stockholdings and is more willing to realize losses. Using leverage, he increases his stockholdings beyond his mental budget and is more reluctant to realize losses. While leverage strengthens the disposition effect, introducing leverage constraints mitigates it. Our model predicts that investors with stocks in deep losses sell them either immediately or after stocks rebound a little. 阅读（_showDynClicks("wbnews", 1287797169, 88257)） （编辑：商学院） .erwei{ text-align:center;} .erwei img{ border:1px dotted #ddd; padding:10px 30px;} #share_box .bds{width:48px;height:48px;background:url(../../images/bigshare.png) no-repeat!important;padding: 0!important;} #share_box .bds_tsina{background-position:0 0!important;} #share_box .bds_tsina:hover{background-position:0 -50px!important;} #share_box .bds_renren{background-position:-50px 0!important;} #share_box .bds_renren:hover{background-position:-50px -50px!important;} #share_box .bds_douban{background-position:-100px 0!important;} #share_box .bds_douban:hover{background-position:-100px -50px!important;} #share_box .bds_tqq{background-position:-150px 0!important;} #share_box .bds_tqq:hover{background-position:-150px -50px!important;} #share_box .bds_weixin{background-position:-200px 0!important;} #share_box .bds_weixin:hover{background-position: -200px -50px!important;} #share_box .bds_more{background-position:-250px 0!important;} #share_box .bds_more:hover{background-position:-250px -50px!important;} #share_box a.bds_count{margin-top:14px;font-size: 15px!important;} .share-area .bds_more{background:none!important;padding:0;} .share-area .bds_more:hover{text-decoration: none!important;} .share-area .bds_tsina{background-position: 0 -104px!important;} .share-area .bds_renren{background-position: 0 -208px!important;} .share-area .bds_douban{background-position: 0 -468px!important;} .share-area .bds_tqq{background-position: 0 -260px!important;} .count{margin-right:10px;display:inline-block;*display:inline;*zoom:1;} .bottom-share{padding:30px 20px;height:45px;} 分享: window._bd_share_config={ "common":{ "bdSnsKey":{}, "bdMini":"2", "bdMiniList":false, "bdStyle":"0", "bdText":"纺织新材料及应用发展的趋势（节选）", "bdUrl": "", }, "share" : [{ "tag" : "share_1", "bdSize" : "16" },{ "tag" : "share_2", "bdSize" : "32" }] }; with(document)0[(getElementsByTagName('head')[0]||body).appendChild(createElement('script')).src='http://bdimg.share.baidu.com/static/api/js/share.js?v=89860593.js?cdnversion='+~(-new Date()/36e5)];