中文摘要：

自从我国实施QFII（合格境外机构投资者）制度以来，随着QFII投资额度的不断增加，其在我国证券市场的影响力也越来越强。本文对QFII在我国A股市场中的交易行为进行了实证研究，结果发现，QFII之间具有较明显的羊群行为，特别是进入股权分置改革之后，其羊群行为更加显著。此外，本文还对QFII的羊群行为与所交易股票流通股股本大小和历史表现等因素的关系进行了检验。针对本文的发现，作者探讨了QFII羊群行为的产生原因，并提出相关建议。

英文摘要：

Since QFII （Qualified Foreign Institutional Investor） system has been set up in China; its impact on China＇s securities market has been increased along with the QFII investment growth. This paper conducts an empirical analysis of the trading behavior of QFII in China＇s A-share market. The results show that there is obvious herd behavior among QFII investors in China and the herd behavior has become more obvious after the split share structure reform of listed companies. The paper also tests the relationship between herd behavior of QFII and other factors such as the number of tradable shares and the stock＇s historical performance. Furthermore,the authors explore the reasons for the herd behavior of QFII and provide some suggestions.