智能投顾与最优投资决策——来自地级市层面的经验证据  

Robo-advisor and Optimal Investment Decisions:Empirical Evidence from the Prefecture Level

作　　者：邓浏睿[1] 谭婕[1] DENG Liurui;TAN Jie(Business School,Hunan Normal University,Changsha 410081,China)

机构地区：[1]湖南师范大学商学院,湖南长沙410081

出　　处：《湖南大学学报（社会科学版）》2024年第4期63-74,共12页Journal of Hunan University(Social Sciences)

基　　金：湖南省自然科学基金项目:金融科技对养老金投资的影响机制及优化路径研究(2022JJ30400)。

摘　　要：通过构建智能投顾对投资者的投资决策的影响机制模型,发现智能投顾能有效降低投资者选择投资顾问的财富门槛,提升投资者对投资顾问的需求并增加投资。这也使更多的投资者能够得到投资顾问的服务,从而获得更高的投资回报。实证研究表明,智能投顾的发展能提升投资者对投资顾问的需求,并在投资者的财富水平、金融素养程度和健康状态方面存在显著差异。This paper builds a model of the process by which robo-advisors influence investors’optimal investment decisions.Through this model,this paper discovers that robo-advisors can lower the wealth level threshold for investors to choose investment advisors,and promote the investors’demand for investment advisors.Thus,more investors are able to take the services of an investment advisor,leading to higher investment returns.The empirical research shows that the development of robo-advisors enhances the investors’demand for investment advisors,there are significant differences in investors’levels of wealth,those of financial literacy and status of health.

关 键 词：智能投顾 投资决策 数字金融 

分 类 号：F832.5[经济管理—金融学]