substantial guard 中文意思是什麼
substantial guard
解釋
堅實護罩- substantial : adj 1 實質的，真正的；【哲學】實在的，實體的，本體的，本質的。2 有財產的，有資產的；有真價的，有...
- guard : n 1 警衛；警戒；看守。2 防衛者；看守者；哨兵，衛兵，〈集合詞〉警衛隊；〈the G 〉 （英國等的）皇家...
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With a rapid expanding of banking credit on real estate industry since 1998, as long as the housing price soaring, there are a theoretical controversy on real estate bubble in china. at the present, our real estate industry depends deeply on credit funds, the bank credit supports our real estate to its full flourish, while accumulating substantial risk correspondingly. therefore, researching the relationship between bank credit behavior and real estate bubble is of great meaning to understand the formation mechanism of bubble and to take measures to guard against and to dissolve the risk of real estate bubble
本文借鑒carey模型和herring & wachter模型來研究銀行信貸行為與房地產泡沫之間的關系，認為銀行提供的信貸資金是房地產價格的一個決定因素，銀行信貸擴張是造成房地產價格上漲直至泡沫形成的重要因素;房地產業的高收益率、銀行對風險評估的失敗是銀行信貸集中於房地產業的主要原因;運用行為金融學理論研究表明，房地產信貸市場存在著過度自信與羊群效應行為，這些行為使得銀行低估信貸集中於房地產業的風險，從而使得大量的信貸資金集中於房地產業。
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