基于认知偏差的金融消费者理财产品购买行为研究

发布时间：2018-05-11 23:16

本文选题：行为金融学 + 金融消费者　；参考：《安徽财经大学》2017年硕士论文

【摘要】：人类处理信息的过程被认为是人类认知的过程,而人类在认知过程中会受到各种因素的影响,陷入一些并不自知的误区。传统的观念认为人类认知的过程总是理性的,所以对于金融学以及经济学的研究和发展是建立在“理性人”的基础上,然而人在认知过程中会受到心理等因素的影响,因此引起人在判断和决策的过程中陷入认知陷阱,形成认知偏差或是决策行为偏差,所以完全理性人的概念在现实环境中是不成立的。金融消费者在金融市场上的消费行为也会不由自主的受到各种心理因素的控制,因而产生各种认知偏差,陷入投资和理财的误区,导致消费者的购买决策存在偏差。除此之外,随着人均可支配收入的增加,投资理财也越来越受到人们的青睐,我国迎来了一股理财的热潮,投资理财产品也不断涌入金融市场。然而我国金融消费者对于投资理财的认识尚不成熟、对其风险认知也不够,在投资理财过程中难免出现各种偏差。目前,国内外对于认知偏差的研究尚不是很充分,基本上专注在证券市场的研究上,很少应用在金融消费者理财的购买行为的研究。同时,我国的金融市场中对于理财的研究也不计其数,但是大部分都是围绕着风险以及生命周期在投资理财中应用的研究,而忽略了金融消费者认知偏差对理财的影响,在认知偏差的视角下金融消费者理财行为的研究较少,因而产生了一些金融消费者在理财过程中的一些异象和无法解释的问题。从认知偏差的角度分析金融消费者的购买决策行为,为金融学理论中新的研究思路和方法,使金融学理论的研究更加完善、更加有意义。因此,通过行为金融认知偏差的理论研究理财产品购买行为偏差具有一定的理论和现实意义。本文以认知偏差为切入点展开对金融消费者理财产品购买行为的研究,根据认知偏差的基本内容重新分析和解读消费者的理财产品购买行为,主要分析金融消费者的认知偏差以及理财产品购买行为,首先分析介绍了认知偏差和理财产品购买行为偏差的相关理论基础以及相关文献研究,从理论上证明由于金融消费者的在理财过程中认知偏差的存在导致其理财购买行为出现偏差。然后通过问卷调查的形式调查金融消费者在理财过程中是否存在的各种认知偏差和理财产品购买行为,并分析了当前我国金融消费者理财现状,通过描述性统计表明认知偏差广泛存在于金融消费者投资理财过程中。另外,运用回归分析的方法研究金融消费者受教育程度、经济状况、风险偏好程度以及认知偏差情况对理财产品购买行为的影响程度。最后,通过分析金融消费者认知偏差、理财购买行为偏差以及投资理财购买过程中存在的误区,提出相关投资理财的建议。
[Abstract]:The process of human processing information is considered to be the process of human cognition, and human cognitive process will be affected by various factors, and fall into some unknown misunderstanding. The traditional idea is that the process of human cognition is always rational, so the research and development of finance and economics are based on "rational man". However, people will be influenced by psychological factors in the process of cognition. As a result, people fall into the cognitive trap in the process of judgment and decision making, forming cognitive bias or decision behavior deviation, so the concept of fully rational person is not valid in the real environment. The consumption behavior of financial consumers in the financial market is also involuntarily controlled by a variety of psychological factors, resulting in a variety of cognitive bias, fall into the misconception of investment and financial management, leading to consumer purchase decision bias. In addition, with the increase of per capita disposable income, investment and financial management is more and more favored by people, China has ushered in a financial boom, investment and financial products have been pouring into the financial market. However, the financial consumers in our country are not mature in their understanding of investment and financial management, nor are they aware of their risks, so it is inevitable that there are various deviations in the process of investment and financial management. At present, the research on cognitive bias at home and abroad is not enough, basically focused on the securities market, rarely used in financial consumer financial purchase behavior research. At the same time, there are countless studies on financial management in China's financial market, but most of them focus on the application of risk and life cycle in investment finance, while ignoring the impact of financial consumers' cognitive bias on financial management. From the perspective of cognitive bias, there are few researches on financial behavior of financial consumers, which leads to some anomalies and unexplainable problems in the process of financial management of financial consumers. The analysis of financial consumers' purchase decision behavior from the angle of cognitive bias is a new research idea and method in finance theory, which makes the study of finance theory more perfect and meaningful. Therefore, it is of theoretical and practical significance to study the purchase behavior bias of financial products through behavioral financial cognitive bias theory. Based on the cognitive bias, this paper studies the purchase behavior of financial consumers' financial products. According to the basic content of cognitive bias, it reanalyzes and interprets consumers' purchasing behavior of financial products. This paper mainly analyzes the cognitive bias of financial consumers and the purchase behavior of financial products. Firstly, it introduces the theoretical basis of cognitive bias and financial product purchase behavior bias and related literature research. It is proved theoretically that financial consumers' financial purchasing behavior is deviated due to the existence of cognitive bias in the process of financial management. Then through the form of questionnaire survey whether financial consumers in the process of financial management whether there are any cognitive bias and financial products purchase behavior and analysis of the current financial situation of financial consumers in China. Descriptive statistics show that cognitive bias widely exists in the financial consumer investment and financial management process. In addition, regression analysis is used to study the influence of financial consumers' education, economic status, risk preference and cognitive bias on financial products purchase behavior. Finally, by analyzing the financial consumers' cognitive bias, financial purchase behavior deviation and the misunderstandings in the process of investment financing purchase, the paper puts forward some suggestions on investment and financial management.
【学位授予单位】：安徽财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.2

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