本文選題：家庭金融資產(chǎn)投資 + 多套房產(chǎn)　； 參考：《復(fù)旦大學(xué)》2013年碩士論文

【摘要】：針對(duì)中國(guó)家庭金融資產(chǎn)投資行為影響因素這一問(wèn)題,通過(guò)之前國(guó)內(nèi)外學(xué)者的研究,本文認(rèn)為其可能主要受到三方面影響：一是,家庭戶主年齡、教育水平、職業(yè)層次等人口統(tǒng)計(jì)學(xué)特征；二是,家庭擁有的以房產(chǎn)為主的非金融資產(chǎn)；三是,家庭總資產(chǎn)的水平。因此,本文選用中國(guó)家庭金融抽樣調(diào)查數(shù)據(jù),采用Probit和Tobit模型進(jìn)行實(shí)證的方法,對(duì)影響因素假設(shè)展開(kāi)全面研究,進(jìn)行了驗(yàn)證。并將研究所得結(jié)論與個(gè)人理財(cái)市場(chǎng)相結(jié)合,為不同背景、層次的家庭提出差異化的家庭理財(cái)建議。 首先,本文采用2011年中國(guó)家庭金融調(diào)查數(shù)據(jù),將篩選出的3734個(gè)樣本家庭,分別按照年齡、教育水平、職業(yè)層次、風(fēng)險(xiǎn)偏好和總資產(chǎn)分組,對(duì)數(shù)據(jù)進(jìn)行統(tǒng)計(jì)觀察,從而對(duì)這五方面的影響進(jìn)行現(xiàn)狀描述分析。 其次,使用Probit. Tobit模型對(duì)家庭風(fēng)險(xiǎn)金融投資參與率和占比的影響因素進(jìn)行實(shí)證研究。其中,主要探究了房產(chǎn)尤其是二套及以上房產(chǎn)對(duì)家庭風(fēng)險(xiǎn)金融投資的影響,以及家庭總資產(chǎn)對(duì)其風(fēng)險(xiǎn)金融投資的影響。 再次,使用Probit. Tobit模型對(duì)家庭投資的風(fēng)險(xiǎn)金融資產(chǎn)內(nèi)部各種金融產(chǎn)品對(duì)股票投資參與率和占比的影響進(jìn)行分析。這一研究的出發(fā)點(diǎn)是,作為主要家庭風(fēng)險(xiǎn)金融資產(chǎn)的股票,近年來(lái)表現(xiàn)不盡如人意,而基金、理財(cái)產(chǎn)品等新生金融產(chǎn)品受到家庭青睞,那么這些新生事物是否會(huì)對(duì)股票造成擠出效應(yīng)。 最后,結(jié)合前文研究結(jié)論,將家庭按擁有房產(chǎn)數(shù)量和財(cái)富水平分類,對(duì)不同背景、層次的家庭提出差異化的個(gè)人理財(cái)建議,以實(shí)現(xiàn)家庭金融投資的優(yōu)化路徑和可行建議。 本文主要的研究成果是：第一,將全部房產(chǎn)和二套及以上房產(chǎn)區(qū)分為兩個(gè)不同的變量,發(fā)現(xiàn)無(wú)論是總體還是二套及以上房產(chǎn)投資,其參與度提高會(huì)促進(jìn)風(fēng)險(xiǎn)金融資產(chǎn)參與,而投資占比會(huì)擠出風(fēng)險(xiǎn)金融投資參與和投資比例；第二,結(jié)合當(dāng)前風(fēng)險(xiǎn)金融投資產(chǎn)品現(xiàn)狀,驗(yàn)證了基金、保險(xiǎn)、理財(cái)產(chǎn)品、信托、外匯、黃金等投資對(duì)傳統(tǒng)風(fēng)險(xiǎn)金融資產(chǎn)股票的參與度和投資占比的沖擊,發(fā)現(xiàn)其他風(fēng)險(xiǎn)金融產(chǎn)品不但沒(méi)有擠出股票參與投資,反而是有促進(jìn)作用；第二,對(duì)家庭分類,為其個(gè)人理財(cái)提出差異化建議,以優(yōu)化家庭金融資產(chǎn)投資行為。
[Abstract]:In view of the problem of influencing factors of family financial assets investment behavior in China, through previous research by domestic and foreign scholars, this paper thinks that it may be mainly affected by three aspects: first, the age of head of household, the level of education, Occupation level and other demographic characteristics; second, the non-financial assets mainly owned by households; third, the level of total assets of households. Therefore, this paper selects the Chinese household finance sample survey data, adopts probit and Tobit model to carry on the empirical method, carries on the comprehensive research to the influence factor hypothesis, has carried on the confirmation. The conclusion of the study is combined with the market of personal finance to give different family financial advice for families with different backgrounds and levels. First of all, this paper uses the data of 2011 Chinese Household Financial Survey to make statistical observation on 3734 selected sample families according to age, education level, occupation level, risk preference and total assets, respectively. So the five aspects of the impact of the status quo description and analysis. Second, use Probit. Tobit model is an empirical study on the influencing factors of household venture capital participation rate and proportion. Among them, it mainly explores the impact of real estate, especially two or more properties, on household venture financial investment, as well as the impact of total household assets on its venture financial investment. Again, use Probit. Tobit model is used to analyze the influence of various financial products on the participation rate and proportion of stock investment in the risky financial assets of household investment. The starting point of this study is that stocks, which are the main household risk financial assets, have not been satisfactory in recent years, while new financial products, such as funds and financial products, have been favored by families. Then whether these new things will cause crowding out effect to the stock. Finally, according to the above conclusions, the author classifies the families according to the amount of property owned and the level of wealth, and puts forward different personal financial advice to families with different backgrounds and levels, in order to realize the optimal path and feasible suggestions of family financial investment. The main research results of this paper are as follows: first, the whole property and two or more real estate are divided into two different variables, and it is found that the increase of participation will promote the participation of risky financial assets, regardless of whether it is a whole or two sets of real estate investment. The proportion of investment will squeeze out the participation and proportion of venture financial investment. Secondly, combining with the current situation of venture financial investment products, it verifies funds, insurance, financial management products, trusts, foreign exchange, The impact of gold and other investments on the participation and proportion of traditional venture financial assets in stocks shows that other risky financial products not only do not squeeze out stocks to participate in investment, but also promote them; second, the classification of households. In order to optimize the investment behavior of family financial assets, the author puts forward some suggestions for personal finance.
【學(xué)位授予單位】：復(fù)旦大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F224;F832;F713.55

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本文編號(hào)：2009681