衡阳市城镇居民家庭理财的非理性行为研究

发布时间：2017-12-27 00:26

本文关键词：衡阳市城镇居民家庭理财的非理性行为研究　出处：《南华大学》2014年硕士论文　论文类型：学位论文

【摘要】：随着社会的发展和财富的增加，如何打理好自己逐渐鼓起来的钱袋子成为许多中国人正在考虑的问题，因此近年来中国兴起了家庭理财热。然而，由于我国经济背景特殊，家庭理财市场发展不成熟，，经验缺乏，家庭理财业在快速发展过程中存在诸多问题，没有形成良好规范的市场。与此同时，人们的投资心理及投资理念尚未形成成熟的风格。作为家庭理财业的重要参与者，理财投资者能否健康、理性地从事投资活动，很大程度上决定了家庭理财市场能否健康、稳定、持续地运行。因此深入分析人们投资理财的行为以及在投资活动中的心理特征、行为模式，是研究家庭理财市场的重要手段，也是实现保护投资者权益的重要条件。在我国，家庭理财市场的非理性行为十分突出，外界因素最终通过内在的心理因素来影响人们的投资行为。因此，本文从行为金融学的角度分析非理性行为，运用行为金融学的相关理论对家庭理财者者进行投资指导，对理财者收益水平的提高和家庭理财市场的稳健发展都具有重要的现实意义。本文首先对家庭理财及非理性行为的概念进行了界定，然后介绍了本文的理论基础，行为金融学的展望理论、投资组合理论、认知偏差理论以及行为偏差理论，接着运用调查问卷所搜集的数据，统计分析出衡阳市城镇居民家庭理财中的非理性行为表现形式，最后借助SPSS17.0统计软件研究居民受教育程度、风险偏好、家庭可支配收入对居民家庭理财中的非理性行为有何影响。实证研究表明：衡阳市城镇居民家庭理财行为具有非理性特征；居民家庭年可支配收入对其表现出的家庭理财非理性行为的影响不显著；受教育程度对家庭理财的非理性行为有负向影响，居民文化程度越高，在做出家庭理财决策时显得更为理性；居民的风险偏好对家庭理财的非理性行为有着显著地正向影响，越是偏好风险追求高利益的投资者越容易在家庭理财时失去理性，做出错误的决定，从而遭受损失。根据上述研究结论，居民应结合自身条件理性地进行家庭理财，金融机构应优化产品结构，提高服务质量，政府部门应完善相关法律法规为居民创造良好的理财环境。
[Abstract]:With the development of society and the increase of wealth, how to manage the money pocketed gradually has become a problem that many Chinese are considering. However, due to the special economic background in China, the development of family financial market is not mature and experience is lacking. There are many problems in the rapid development of family financial industry, and no good normative market has been formed. At the same time, people's investment mentality and investment ideas have not yet formed a mature style. As an important participant in family financial industry, whether financial investors can engage in investment activities healthily and rationally determines to a large extent whether the family financial market can run healthily, steadily and continuously. Therefore, in-depth analysis of people's investment and financial behavior and psychological characteristics and behavior patterns in investment activities is an important way to study family financial market, and also an important condition to protect investors' rights and interests. In our country, the irrational behavior of the family financial market is very prominent, and the external factors ultimately affect the people's investment behavior through internal psychological factors. Therefore, this paper analyzes irrational behavior from the perspective of behavioral finance. Using behavioral finance theory to guide family financial investors is of great practical significance for the improvement of financial managers' income level and the steady development of family financial market.
【学位授予单位】：南华大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.48;F224

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