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| 佛法、股票市場和良善金融=Dharma and Financial Markets | ||
| 作者 | 詹場 (著)=Chan, Chang (au.) |
|---|---|
| 出處題名 | 聖嚴研究：第十輯=Studies of Master Sheng Yen Vol.10 |
| 出版日期 | 2018.05 |
| 頁次 | 255 - 315 |
| 出版者 | 法鼓文化 |
| 出版者網址 | http://www.ddc.com.tw/ |
| 出版地 | 臺北市, 臺灣 [Taipei shih, Taiwan] |
| 叢書名 | 聖嚴思想論叢 |
| 叢書號 | 10 |
| 資料類型 | 專題研究論文=Research Paper |
| 使用語言 | 中文=Chinese |
| 附註項 | 聖嚴思想國際學術研討會(第6屆) 會議時間：2016年7月1、2日 作者單位：國立臺北大學金融與合作經營學系副教授 Associate Professor, Department of Finance and Cooperative Management, National Taipei University |
| 關鍵詞 | 佛法= Buddha Dharma; 無常觀= impermanence; 因果觀= causality; 慈悲觀=mercy; 股票市場=financial market; 金融市場= stock market; 良善金融=good finance |
| 摘要 | 本文連結佛法之「無常觀」、「因果觀」及「慈悲觀」與股票市場之價格行為、效率性；闡述金融危機的發生與投資人遭受損失，主要源於「貪欲」、「瞋恚」、「愚癡」及「恐懼」；論述「慈悲觀」與「因果觀」可以根治「逆選擇」、「道德風險」、「利益衝突」、「代理問題」、「搭便車」等阻礙金融市場發揮良善功能的問題。本文首先以美、中、日、英等國之股市與蘋果（Apple Inc.）及谷歌（Google Inc.）等公司股價，佐證佛法的無常觀；其次以善良公司的股價表現較佳，以及福斯集團（Volkswagen Group）等公司之負面事件對股價之影響，說明股票市場之效率性與佛法之因果觀相應。接著闡述金融危機的發生與投資人蒙受損失主要根源於貪欲、瞋恚、愚癡及恐懼。最後以金融學理論述慈悲觀與因果觀能有效促使金融市場發揮良善功能。綜合而言，本文期盼結合佛法、股市的真相及金融學理，讓人們了解金融市場不離佛法，體悟遠離貪、瞋、癡是避免金融市場負面影響的關鍵；秉持慈悲利他、深信因果、心無罣礙是獲得金融市場正面助益的根本。祈願金融市場參與者能體悟無常、深信因果、發菩提心，使金融市場回歸良善的本來面目，讓金融市場參與者心安平安、平安吉祥。 This paper is trying to link the impermanence, causality and mercy of the Buddha Dharma with the behavior of price, efficiency and function of the stock market. It states that the huge loss and financial crisis were mainly caused by the greed, anger, ignorance and fear of the people. This paper also analyzes why mercy and causality of the Buddha Dharma can solve the problems (such as adverse selection, moral hazard, agency problem, interest conflict, and free rider) which prevent the good function from bringing into full play in the financial market. This article first states the behavior of price of stock markets in U.S., U.K., Japan, and China; the stock price of Apple and Google are used to prove the impermanent principle of the Buddha Dharma. Secondly, given that good company’s share price is better, and the negative impact of the major events of Volkswagen and other companies on the stock price, it is proved that the efficiency of stock markets conforms to the causality of the Buddha Dharma. Third, this article provides evidence that the financial crisis and huge loss are mainly caused by greed, anger, ignorance and fear of the investors. Finally, according to the theory of finance, this paper describes how mercy and causality of the Buddha Dharma can solve the problems which prevent the good function from bringing into play in financial淤market. In conclusion, by describing the facts and the theory of the financial market, hope we can realize that the financial market conforms to the Buddha Dharma and staying far away from greed, anger, and ignorance is the key to avoid the negative impact of the financial market. Keeping mercy, altruism, believes in causality, and away from fear deep in mind is the key way to get the financial market back to good function. Hope all the financial market participants can realize impermanence, inconstancy, causality, and developing our enlightened mind. It will let the financial market go back to the intrinsic function to benefit people and let all the market participants possess physical and mental stability. |
| 目次 | 一、導論 257 二、股票市場之價格行為與無常觀相應 264 三、股票市場之價格與佛法「因果觀」相應 271 四、金融市場之害與投資人損失是源於貪欲、瞋恚、愚癡及恐懼 279 五、佛法與良善金融 293 （一）金融市場的功能與佛法的「慈悲觀」相應 294 （二）佛法「慈悲觀」與「因果觀」可以根治阻礙金融市場發揮善功能之問題 296 六、結論 305 參考文獻 309 英文摘要 314 |
| 點閱次數 | 366 |
| 建檔日期 | 2020.09.16 |
| 更新日期 | 2021.08.18 |
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