本文選題：金融資產(chǎn)多元化 + 資產(chǎn)選擇��； 參考：《西北大學》2012年碩士論文

【摘要】：隨著我國金融市場的發(fā)展與改革,居民家庭金融資產(chǎn)的總量迅速擴張,金融資產(chǎn)種類不斷豐富,居民資產(chǎn)選擇行為表現(xiàn)出越來越復雜的態(tài)勢,對經(jīng)濟的影響作用也越來越重要。由此產(chǎn)生了關(guān)于對居民金融資產(chǎn)問題的一系列探討：居民金融資產(chǎn)發(fā)展與經(jīng)濟發(fā)展的關(guān)聯(lián)性,居民金融資產(chǎn)的結(jié)構(gòu)特征,影響居民金融資產(chǎn)選擇行為的因素有哪些等等。本文正是建立在這樣的背景下對我國居民金融資產(chǎn)的多元化問題展開研究。 本文首先介紹了資產(chǎn)選擇的相關(guān)理論,并提出本文研究的理論基礎(chǔ),接著借鑒前入對居民金融資產(chǎn)的界定范圍構(gòu)建了本文所研究的居民金融資產(chǎn)多元化標準,并建立了衡量居民金融資產(chǎn)結(jié)構(gòu)的存量和增量指標體系。然后,利用統(tǒng)計數(shù)據(jù)對我國居民金融資產(chǎn)進行估算,借助以上指標分析了我國居民金融資產(chǎn)多元化的現(xiàn)狀,并指出我國居民金融資產(chǎn)多元化現(xiàn)狀的特征及存在的問題。 本文核心部分是對中國居民金融資產(chǎn)多元化的實證研究,探討影響居民金融資產(chǎn)結(jié)構(gòu)的各種因素。在這一部分,本文將影響居民金融資產(chǎn)結(jié)構(gòu)的變動因素歸為兩大類：即由收入決定的投資傾向類因素和非收入決定的資產(chǎn)替代率因素。并將數(shù)量化的投資傾向指標與我國居民金融資產(chǎn)的存量結(jié)構(gòu)變動系數(shù)進行實證回歸,通過可絕系數(shù)的大小來判斷我國居民手持現(xiàn)金、儲蓄存款、債券、股票及保險準備金五類金融資產(chǎn)存量結(jié)構(gòu)變動的內(nèi)在原因。在此基礎(chǔ)上繼續(xù)探討對投資傾向及資產(chǎn)替代行為產(chǎn)生影響的促進及約束因素。 本文研究結(jié)果表明,引起我國居民各項金融資產(chǎn)變動的主要因素不同,且長期來看,我國居民的資產(chǎn)替代主要表現(xiàn)為股票對現(xiàn)金及儲蓄存款的替代,但預防性動機及投資市場的高風險性都對資產(chǎn)替代行為產(chǎn)生抑制作用,因此,為了加快居民金融資產(chǎn)多元化發(fā)展,促進儲蓄更多的轉(zhuǎn)化為其他金融資產(chǎn)的投資,本文最后提出應進一步規(guī)范金融市場,完善社會保障制度建設,積極開展個人消費信貸業(yè)務,加快金融產(chǎn)品創(chuàng)新,提高投資者信心,減少不確定性。 本文的研究成果不僅對政府調(diào)整金融資產(chǎn)結(jié)構(gòu)的政策有一定的參考意義,同時也對商業(yè)銀行和金融機構(gòu)的經(jīng)營取向有重要的參考價值。
[Abstract]:With the development and reform of China's financial market, the total amount of household financial assets is expanding rapidly, and the types of financial assets are becoming more and more abundant. The choice of household assets shows a more and more complex situation, and the influence on economy is becoming more and more important. Therefore, a series of discussions have been made on the problems of residents' financial assets, such as the relationship between the development of residents' financial assets and economic development, the structural characteristics of residents' financial assets, and the factors that influence the residents' choice of financial assets, and so on. This paper is based on this background to study the diversification of resident financial assets in China. This paper first introduces the relevant theories of asset selection, and puts forward the theoretical basis of this study, and then constructs the standard of diversification of residential financial assets, which is based on the definition of residents' financial assets. And established the stock and the increment index system to measure the resident financial assets structure. Then, using the statistical data to estimate the resident financial assets of our country, with the help of the above indexes, this paper analyzes the present situation of the diversification of the resident financial assets of our country, and points out the characteristics and existing problems of the present situation of the diversification of the resident financial assets of our country. The core part of this paper is an empirical study on the diversification of Chinese residents' financial assets, and discusses various factors that affect the structure of residents' financial assets. In this part, the factors that affect the structure of financial assets of residents are classified into two categories: the factors of investment propensity determined by income and the factor of asset substitution rate determined by non-income. The quantitative index of investment propensity and the change coefficient of stock structure of Chinese residents' financial assets are empirically regressed to judge the holding cash, savings deposits and bonds of Chinese residents through the size of the absolute coefficient. Stock and insurance reserve five kinds of financial assets stock structure changes internal reasons. On the basis of this, we continue to explore the influence factors of investment tendency and asset substitution behavior. The results of this paper show that the main factors that cause the change of financial assets of Chinese residents are different, and in the long run, the substitution of Chinese residents' assets is mainly reflected in the substitution of stock to cash and savings deposits. However, the precautionary motivation and the high risk of the investment market have a restraining effect on the asset substitution behavior. Therefore, in order to accelerate the diversification of the residents' financial assets and promote the transformation of savings into the investment of other financial assets, At the end of this paper, we should further standardize the financial market, perfect the construction of social security system, actively develop personal consumer credit business, speed up the innovation of financial products, improve investor confidence and reduce uncertainty. The research results of this paper not only have certain reference significance for the government to adjust the structure of financial assets, but also have important reference value for the management orientation of commercial banks and financial institutions.
【學位授予單位】：西北大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832;F224

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本文編號：1865214