基于社会互动视角的我国居民股市参与研究

发布时间：2018-05-01 19:52

本文选题：社会互动 + 股市参与　；参考：《中南大学》2013年硕士论文

【摘要】：摘要：随着中国股市的发展,股票投资逐渐成为我国城镇居民生活理财的重要组成部分,居民是否参与股市对家庭的投资组合、未来消费和福利等方面均会产生影响。在现实中,投资者的股票投资等金融决策行为往往并不是建立在专业的知识和技能基础上,而是依赖于社会网络中的互动行为,即群体成员的行为与特征对个体的投资决策产生了有效影响。本文试图从社会互动的视角,对我国居民的股市参与行为进行深入研究。已有的研究表明,社会互动推动了家庭的股市参与,依据相应机制的理论基础和预测,本文对我国股市的现实情况和不同的具体机制进行了研究。首先在对国内外相关文献进行梳理的基础上,总结了影响居民股市参与行为的主要因素,分析了社会互动影响居民股市参与行为的具体机理。其次,通过对我国居民开户情况和股市参与情况调查数据的统计分析,分别归纳出我国居民股市参与情况的区域差异和不同特征样本差异。最后,使用了中国健康与养老追踪调查2011年的数据,以四十五岁及以上中老年人的股票投资决策作为主要研究对象,采用二元Logit回归模型,实证检验了中国市场上社会互动对居民股市参与行为的影响,并进一步探讨了其具体的影响机制。研究结果表明：在中国市场,社会互动促进了居民股市参与行为,相对财富关注是社会互动推动居民股市参与的主导机制,而口头信息和交流感受机制不能作用于社会互动促进居民股市参与的过程。
[Abstract]:Abstract: with the development of Chinese stock market, stock investment has gradually become an important part of urban residents' financial management in China. Whether residents participate in the stock market will have an impact on family portfolio, future consumption and welfare. In reality, investors' financial decisions, such as equity investments, are often not based on professional knowledge and skills, but rely on interactions in social networks. That is, the behavior and characteristics of group members have an effective impact on individual investment decisions. From the perspective of social interaction, this paper attempts to conduct a deep study on the participation behavior of Chinese residents in the stock market. According to the theoretical basis and prediction of the corresponding mechanism, this paper studies the actual situation and different specific mechanisms of the stock market in China. First of all, on the basis of combing the relevant literature at home and abroad, this paper summarizes the main factors that affect the participation behavior of the resident stock market, and analyzes the specific mechanism of the social interaction affecting the participation behavior of the resident stock market. Secondly, through the statistical analysis of the survey data of the residents' account opening and the stock market participation, the paper concludes the regional differences of the residents' participation in the stock market and the differences of different characteristic samples respectively. Finally, using the data of China Health and Old-age tracking Survey in 2011, taking the stock investment decision of the middle-aged and elderly aged 45 and over as the main research object, using the binary Logit regression model. This paper empirically examines the influence of social interaction on the participation behavior of the resident stock market in Chinese market, and further discusses its specific influence mechanism. The results show that: in Chinese market, social interaction promotes residents' participation in stock market, and relative wealth is the dominant mechanism of social interaction to promote residents' participation in stock market. The mechanism of oral information and communication can not promote the participation of the residents in the stock market.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F224;F832.51

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