我国居民家庭金融资产选择行为的影响因素研究.pdfVIP

摘 要 改革开放以来，随着我国经济的高速发展，居民家庭的收入水平不断提高，对金融资 产的内在需求也越来越大。同时，资本市场也在不断地改革和发展，居民可以通过各种投 资工具实现财富增值，家庭的金融投资行为也日趋复杂，家庭金融资产的规模和多样性程 度都得到发展。但在国际金融危机的影响下，股市大幅度震荡、全球经济持续低迷使居民 的财富受到严重影响。因此，如何引导家庭进行合理的金融资产投资、营造理性的投资氛 围，对于保持我国经济的稳定增长发挥着重要的作用。 本文采用理论分析与统计分析相结合的研究方法。首先，对居民家庭金融资产选择的 相关文献进行回顾和总结。其次，以西方消费—储蓄理论和现代资产组合理论等为基础， 对影响居民家庭金融资产选择的主要因素进行一般性的理论分析，并对各种因素的影响机 制及其之间的关系进行分析。再次，通过对我国居民家庭金融资产的规模和结构进行比较， 利用居民投资行为与感受的数据进行统计分析，分别归纳出我国城镇居民和农村居民投资 行为的规律和特征。同时，对美国家庭持有金融资产组合的现状和特征进行分析，为发展 我国家庭金融资产投资、提高居民财产性收入提供借鉴。最后，对本文的研究结论进行总 结，并引出对投资者风险教育、资本市场创新和监管等方面的思考。 关键词：家庭金融资产；资产选择；影响因素 I Abstract Abstract AAbbssttrraacctt With the rapid development of the socio-economic level after the Chinese Economic Reform, the income level of households is increasing as well as their needs for financial assets. At the same time，the financial markets are well developed than before and households have easier access to different kinds of financial instruments to achieve wealth appreciation. The behaviors of household financial assets allocation are becoming more and more complex, which means thescaleand structureof household financial assets havebeen improved. However, under the storm of the global financial tsunami, the stock market vibrated substantially and the continuous recession made households’ wealth shrink severely. Therefore, how to guide reasonable investmentin financial assets and to create a rational investmentclimate will play an importantroleinmaintainingstableeconomicgrowthinChina. This paper will do both theoretical analysis and statistical analysis. Firstly, the paper reviews former foreign and domestic research on household portfolios. Secondly, based on the theory of consumption and saving and modern portfolio theory, the