股民差异性动机与股票投资决策行为关系的分析与检验  

The Analysis and Test of the Relationship between Different Motivations of Stock Investors and the Investment Decision Behavior

作　　者：刘文超[1,2] 王巍 仲崇文[4] 

机构地区：[1]吉林大学商学院,吉林长春130012 [2]吉林财经大学工商管理学院,吉林长春130117 [3]金元证券股份有限公司,北京100024 [4]清华大学工业工程系,北京100084

出　　处：《上海金融》2014年第1期78-83,118,共6页Shanghai Finance

基　　金：国家自然基金面上项目(71173087);教育部人文社科规划项目(10YJA630029);吉林省社科基金项目(2011B126)

摘　　要：股民的动机与股票投资决策行为之间的影响关系尚不明确。基于此,本文通过问卷调查进行实证研究发现,股民存在三种基本动机:内在动机、外在动机和无动机。其中内在动机还可分为求知的动机、取得成就的动机和体验刺激的动机;外在动机还可分为外在调节动机和内射调节动机。从总体上看。股民的股票投资动机与股票投资决策行为之间存在正向影响关系。但是,分维度来看,不同的动机类型对不同的股票投资决策行为产生不同的影响。本研究有助于股票经营和销售机构加深对股民心理和行为的认识,并采取适当的营销策略影响特定动机类型股民的行为。The relationship between stock investors' motivation and stock investment behavior is not clear yet.Based on this,this paper carries on an empirical research through questionnaire survey.It finds that stock investors have three basic motivations:intrinsic motivation,extrinsic motivation,and amotivation.The intrinsic motivation can be divided into epistemic motivation,achievement motivation and experience motivation;extrinsic motivation can be divided into external regulation motivation and injective regulation motivation.Generally speaking,there is a positive relationship between stock investors' motivation and stock investment behavior.However,different types of motivation have different effects on the stock investment behaviors.This study helps the stock management and sales organizations deepen the understanding of investor psychology and behaviors,and to take appropriate marketing strategies to affect the investors' behaviors with specific types of motivation.

关 键 词：股民 内在动机 外在动机 无动机 投资决策行为 

分 类 号：F830.91[经济管理—金融学]