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Modern Investment Theory in the West and Prospect of Its Application in China
LIU Feng-liang, LIU Ming-xing
Teaching and Research
2000, (2):
64-69.
To understand the macroeconomic characteristics of investment, we should study the micro-foundation of investment behavior and its relationship with the investment in aggregate. Under circumstances of market economy, it is the firms that play the major part of investment aimed at formation of the capital. Therefore, the theory of their investment behavior becomes an important basis for research in investment theories. This article offers a survey of the development of theories in investment behavior in the past hundred years. In it the author attempts to explain the connotation of the theory, outline the trace of thoughts, and summarize the method of analysis. Weaknesses and future tendency are also discussed. The author is optimistic about the prospect of applying the Western modern investment theories in China.
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