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Finance comportementale Le cas des analystes financiers

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  • Hélène Rainelli-Weiss

    (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

Abstract

Née dans les années 1950, la théorie financière des marchés a développé grâce à une heuristique féconde, des outils dont l'influence sur les pratiques est aujourd'hui encore très sensible. Les crises financières de ces dernières années ont fortement ébranlé cet édifice théorique par ailleurs remis en cause, sur le plan théorique, par les tenants d'un nouveau courant dit de « finance comportementale ». Ces derniers plaident, depuis un peu plus d'une décennie, pour une meilleure prise en compte des comportements humains réellement observés sur les marchés. A travers l'exemple de la profession d'analyste financier, il est possible de comprendre l'enjeu de ce débat et de voir que cette question des comportements appelle, outre des considérations sur la nature cognitive des décisions des acteurs, une réflexion sur l'organisation des professions de l'industrie financière. Ainsi la finance de marché se trouve-t-elle depuis peu préoccupée de questions depuis longtemps familières à la gestion des ressources humaines.

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  • Hélène Rainelli-Weiss, 2012. "Finance comportementale Le cas des analystes financiers," Post-Print halshs-02376287, HAL.
    • Handle: RePEc:hal:journl:halshs-02376287
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-02376287
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    References listed on IDEAS

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    1. De Bondt, Werner F M & Thaler, Richard, 1985. "Does the Stock Market Overreact?," Journal of Finance, American Finance Association, vol. 40(3), pages 793-805, July.
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