中文摘要：

将行为金融理论引入基础可转债定价之中，构建了投资者情绪下的基础可转债定价模型。投资者情绪通过影响市场贴现率和股票波动率，进而影响基础可转债的价格。数值模拟结果表明，投资者对市场贴现率过度乐观将提高基础可转债的价格，反之，将降低其价格。投资者对预期股票波动率过度乐观将降低基础可转债的价格，反之，将提高其价格。

英文摘要：

Under the framework of behavioral finance, a model of basic convertible bonds was developed by introducing investor sentiment. Influences of investor sentiment on market discount rate and volatility of stocks were discussed. Numerical simulation results shows when investors express over-optimism about market discount rate, the basic convertible bond price will be overestimated. Conversely, the price will be under-estimated. When investors express over-optimism towards volatility of stocks, the basic convertible bond price will be under-estimated. Conversely, the price will be overestimated.