家庭资产选择行为研究
发布时间：2019-05-05 08:53
【摘要】：随着改革开放的深入，家庭积累更多的财富，如何实现家庭资产的增值保值是关系一个家庭生活质量、满意程度的重要问题。随着金融市场深度和广度上的拓展，家庭资产选择具备更大的空间。家庭资产选择的研究属于家庭金融的范畴，深入探究家庭资产选择行为不仅能够提升家庭的生活水平，同时为国家相关部门制定宏观政策提供依据，为金融机构投资工具创新提供有益建议，为优化家庭资产选择行为提供思路和途径，由此可以看出深入研究家庭资产选择行为具有理论意义和实践意义。 以对家庭资产选择相关概念和行为金融学相关理论的介绍为出发点，，从三个层次展开家庭资产选择行为的研究。首先，对生命周期、财富水平这两个影响家庭资产选择行为的基本影响因素进行分析。第二，运用行为金融学中的投资者心态模型之一的BSV模型从理论上深入探究风险态度、从众心理、社会信任、投资预期、投资情绪、过度自信这六类家庭成员认知因素的影响机理，并针对家庭成员认知程度不同而产生的反应过度和反应不足提出了纠偏策略，完善和优化家庭资产选择行为。第三，以发放问卷的形式收集微观的家庭数据，运用因子分析和回归分析，对于上述提到的影响因素的影响程度进行了实证检验。通过实证检验，验证了生命周期、财富因素对于家庭资产选择具有显著影响，并且影响程度高于其他因素。六类心理认知因素较高的家庭，会选取更高比例的证券类资产和实物类资产，而对于货币类资产的影响程度不显著。
[Abstract]:With the deepening of reform and opening-up, families accumulate more wealth. How to realize the value-added value of family assets is an important problem related to the quality of life and satisfaction of a family. With the expansion of the depth and breadth of the financial market, the choice of household assets has more space. The research of family asset choice belongs to the category of family finance. Exploring the behavior of family asset choice can not only improve the standard of living of the family, but also provide the basis for the relevant departments of the country to formulate macro-policy. This paper provides useful suggestions for innovation of investment instruments of financial institutions and provides ideas and approaches for optimizing the behavior of family asset selection, which shows that it is of theoretical and practical significance to study the behavior of household asset selection in depth. Based on the introduction of the concept of family asset selection and behavioral finance theory, the research on family asset selection behavior is carried out from three levels. First of all, the life cycle and wealth level are the two basic influencing factors of family asset selection behavior. Secondly, the BSV model, which is one of the investor psychology models in behavioral finance, is used to probe into the attitude of risk, crowd psychology, social trust, investment expectation and investment sentiment in theory. Overconfidence is the influence mechanism of six kinds of family members' cognitive factors. According to the overreaction and underreaction of family members with different cognitive level, the strategy of correcting bias is put forward to perfect and optimize the family asset selection behavior. Thirdly, the micro-family data were collected in the form of questionnaire, and the influence degree of the factors mentioned above was tested by factor analysis and regression analysis. Through the empirical test, it is proved that the life cycle, wealth factor has a significant impact on household asset selection, and the degree of influence is higher than other factors. Six types of families with higher psychological cognitive factors will choose a higher proportion of securities assets and physical assets, but the degree of influence on monetary assets is not significant.
【学位授予单位】：哈尔滨工业大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.48
本文编号：2469431
[Abstract]:With the deepening of reform and opening-up, families accumulate more wealth. How to realize the value-added value of family assets is an important problem related to the quality of life and satisfaction of a family. With the expansion of the depth and breadth of the financial market, the choice of household assets has more space. The research of family asset choice belongs to the category of family finance. Exploring the behavior of family asset choice can not only improve the standard of living of the family, but also provide the basis for the relevant departments of the country to formulate macro-policy. This paper provides useful suggestions for innovation of investment instruments of financial institutions and provides ideas and approaches for optimizing the behavior of family asset selection, which shows that it is of theoretical and practical significance to study the behavior of household asset selection in depth. Based on the introduction of the concept of family asset selection and behavioral finance theory, the research on family asset selection behavior is carried out from three levels. First of all, the life cycle and wealth level are the two basic influencing factors of family asset selection behavior. Secondly, the BSV model, which is one of the investor psychology models in behavioral finance, is used to probe into the attitude of risk, crowd psychology, social trust, investment expectation and investment sentiment in theory. Overconfidence is the influence mechanism of six kinds of family members' cognitive factors. According to the overreaction and underreaction of family members with different cognitive level, the strategy of correcting bias is put forward to perfect and optimize the family asset selection behavior. Thirdly, the micro-family data were collected in the form of questionnaire, and the influence degree of the factors mentioned above was tested by factor analysis and regression analysis. Through the empirical test, it is proved that the life cycle, wealth factor has a significant impact on household asset selection, and the degree of influence is higher than other factors. Six types of families with higher psychological cognitive factors will choose a higher proportion of securities assets and physical assets, but the degree of influence on monetary assets is not significant.
【学位授予单位】：哈尔滨工业大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.48
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