投资者风险感知与风险倾向对风险决策的影响——基于民间投资者的样本  

The Effect of Investor Risk Perception and Risk Propensity on Risk Decision-making——Based on a Sample of Private Investors

作　　者：毛华配[1] 王艇[2] 郑璐[2] 吴雅瓦 郑全全[2] 

机构地区：[1]温州大学商学院,温州325035 [2]浙江大学心理与行为科学学院,杭州310028 [3]建设银行温州分行,温州325027

出　　处：《应用心理学》2013年第4期332-338,共7页Chinese Journal of Applied Psychology

基　　金：教育部人文社科规划基金(09YJAZH069);浙江省教育厅科研基金(20070544)

摘　　要：采用模拟投资任务和问卷测查的方式,考察了投资者的风险感知、风险倾向对其风险决策的影响,并对风险感知与风险倾向的交互作用进行分析。结果发现:①投资者的风险感知对其风险决策有显著的负向作用;②投资者的风险倾向对其风险决策有显著的正向作用;③风险感知对风险决策的影响作用部分通过风险倾向这一中介完成。The investors＇ risk perception and risk propensity play an important role in the system of risk decision- making. Previous research grouped risk perception and risk propensity into the study of the organization- al decision making system, which revealed that the risk propensity played an important effect on risk perception and risk decision making, however, other scholars found different results. To investigate the relationship among risk perception, risk propensity, risk decision-making, this study adopted the method of simulated investment with a sample of private in-vestors. With common method biases test, mediating effects test, correlation analysis and regression anal- ysis, the study concludes that： （I） investor＇s risk perception has a significant negative effect on their risk decision making; （2） investors＇ risk propensity has a significant positive effect on their risk deci- sions; （3） part of the effect of risk perception on risk decision-making is carried out through mediary of risk propensity. inter-

关 键 词：风险感知 风险倾向 风险决策 

分 类 号：B849[哲学宗教—应用心理学]