性别和风险感知对投资行为的影响——基于行为实验室实验的数据  

How Gender, Risk Perception Affect Investment Behaviors——Based on Behavioral Laboratory Experiments

作　　者：王宗润[1] 杨确 WANG Zong-run;YANG Que(School of Business,Central South University,Changsha,Hunan 410083;School of Business,Hunan Agriculture University,Changsha,Hunan 410128,China)

机构地区：[1]中南大学商学院,湖南长沙410083 [2]湖南农业大学商学院,湖南长沙410128

出　　处：《湘潭大学学报（哲学社会科学版）》2020年第3期123-130,共8页Journal of Xiangtan University:Philosophy And Social Sciences

基　　金：湖南省自然科学基金(2018JJ2188);国家自然基金重点项目(71631008);国家自然基金面上项目(71371194)。

摘　　要：在受互联网影响越来越大的今天,投资人可以通过多种线上信息渠道或移动终端了解投资理财产品,这使得不同投资人对产品的风险感知有别于产品的实际风险。本文以资本市场实验室实验数据为基础,研究风险收益环境下女性投资人占比率在价格泡沫破碎过程中与价格预测、投资策略等交易行为因素的相关性。研究发现高风险感知环境与低风险感知环境相比,资产价格的变化在价格泡沫破碎时有明显不同,女性投资者参与度、资产预测准确度和不同投资策略在高感知风险影响下,对投资行为有不同影响。Today,with the increasing influence of the Internet,investors can know investment products through a variety of online information channels or mobile terminals,which makes diverse investors'risk perception of products different from the actual risks of products.Based on the capital market laboratory experiment,this paper studies the correlation between the ratio of female investors in the risky return environment and the trading behavior factors such as price forecasting and investment strategies in the process of price bubble crash.It is found that comparing with the low risk perception environment,asset price in the high risk perception environment changes significantly different in the process of price bubble crash.The female investor participation,price prediction accuracy and investment strategies have different effects on investment behavior under the influence of high perceived risk.

关 键 词：性别 风险感知 投资行为 实验室实验 

分 类 号：F830.91[经济管理—金融学]