股市个人投资者的潜在类型分析  

Analysis of latent categories of individual investors in Chinese stock markets

作　　者：车宏生[1] 杨六琴[1] 朱敏[1] 王小华[1] 

机构地区：[1]北京师范大学心理学院心理系,北京100875

出　　处：《管理科学学报》2002年第5期23-29,共7页Journal of Management Sciences in China

摘　　要：通过北京市 30个证券营业部对 1 1 1 7名股市个人投资者进行问卷调查 ,研究发现 :总体上 ,投资者在选择股票时主要关注大盘走势和庄股动向 ,同时也考虑产业政策、个股技术指标、上市公司的经营状况等信息 ;根据股市个人投资者选择股票时的 1 2种可能影响因素 ,文中把股市个人投资者聚类成为分析型、从众型和综合型 3种潜在类型 ;根据对个人投资者聚类的结果建立了投资者潜在类型的判别方程 ;不同类型的投资者在教育水平特征、股龄特征以及跟庄行为上存在显著的差异 .With a self compiled questionnarie, this research aims to discuss the way in which investors select stocks to invest and to identify whether there are different categories of investors who focus on different aspects of information in selecting stocks. The results reveal that in selecting stocks, investors generally focus on the trend of the market and the move of the masters,considering other information as well.Then,according to the possible factors influncing the stock selection,all the investors are categorized into three kinds by cluster analysis: Analytical ones, conformable ones and synthetic ones.Also,based on the result of classification,we establish two functions to discriminate the categories of the investors.

关 键 词：个人投资者 类型分析 聚类分析 判别方程 中国 股票市场 

分 类 号：F832.5[经济管理—金融学]