YOUXIAOSHICHANGJIASHUO（EMH）
1965NIAN，MEIGUOZHIJIAGEDAXUEJINRONGXUEJIAOSHOUYOUJIN·FAMA(Eugene Fama)，FABIAOLEYIPIANTIWEI《GUPIAOSHICHANGJIAGEXINGWEI》DELUNWEN，YU1970NIANDUIGAILILUNJINXINGLESHENHUA，BINGTICHUYOUXIAOSHICHANGJIASHUO（Efficient Markets Hypothesis，JIANCHENGEMH）。YOUXIAOSHICHANGJIASHUOYOUYIGEPOSHOUZHIYIDEQIANTIJIASHE，JICANYUSHICHANGDETOUZIZHEYOUZUGOUDELIXING，BINGQIENENGGOUXUNSUDUISUOYOUSHICHANGXINXIZUOCHUHELIFANYING。GAILILUNRENWEI，ZAIFALVJIANQUAN、GONGNENGLIANGHAO、TOUMINGDUGAO、JINGZHENGCHONGFENDEGUPIAOSHICHANG，YIQIEYOUJIAZHIDEXINXIYIJINGJISHI、ZHUNQUE、CHONGFENDIFANYINGZAIGUJIAZOUSHIDANGZHONG，QIZHONGBAOKUOQIYEDANGQIANHEWEILAIDEJIAZHI，CHUFEICUNZAISHICHANGCAOZONG，FOUZETOUZIZHEBUKENENGTONGGUOFENXIYIWANGJIAGEHUODEGAOYUSHICHANGPINGJUNSHUIPINGDECHAOELIRUN。
XINGWEIJINRONGXUE（BF）
1979NIAN，MEIGUOPULINSIDUNDAXUEDEXINLIXUEJIAOSHOUDANNIER·KANAMAN（Daniel Kahneman）DENGRENFABIAOLETIWEI《QIWANGLILUN：FENGXIANZHUANGTAIXIADEJUECEFENXI》DEWENZHANG，JIANLILERENLEIFENGXIANJUECEGUOCHENGDEXINLIXUELILUN，CHENGWEIXINGWEIJINRONGXUEFAZHANSHISHANGDEYIGELICHENGBEI。
XINGWEIJINRONGXUE（Behavioral Finance，JIANCHENGBF）SHIJINRONGXUE、XINLIXUE、RENLEIXUEDENGYOUJIJIEHEDEZONGHELILUN，LITUJIESHIJINRONGSHICHANGDEFEILIXINGXINGWEIHEJUECEGUILV。GAILILUNRENWEI，GUPIAOJIAGEBINGFEIZHIYOUQIYEDENEIZAIJIAZHISUOJUEDING，HAIZAIHENDACHENGDUSHANGSHOUDAOTOUZIZHEZHUTIXINGWEIDEYINGXIANG，JITOUZIZHEXINLIYUXINGWEIDUIZHENGQUANSHICHANGDEJIAGEJUEDINGJIQIBIANDONGJUYOUZHONGDAYINGXIANG。TASHIHEYOUXIAOSHICHANGJIASHUOXIANGDUIYINGDEYIZHONGXUESHUO，ZHUYAONEIRONGKEFENWEITAOLIXIANZHIHEXINLIXUELIANGBUFEN。
