谱风险测度能够很好地反映投资者对待风险的态度,具体通过不同的可接受风险谱函数来反映,是一种比ES更好的一致风险测度。故本文采用谱风险作为对风险的衡量,建立均值-谱风险的投资者组合模型,并给出了在正态分布下的解析式。本文旨在给广大学者提供一种新的研究视角,并在结尾处给出了下一步的研究方向。 Spectral risk measure can well reflect the attitude of investors to the risk, which is reflected by different acceptable risk spectral functions. It is a better consistent risk measure than ES. Therefore, this paper uses spectrum risk as a measure of risk and establishes a portfolio model of investors with mean-spectrum risk, and gives the analytical formula under normal distribution. The purpose of this article is to provide scholars with a new perspective of research, and at the end of this chapter gives the next direction of research.