摘要
通过设计涵盖家庭基本信息、风险偏好、理财现状及未来理财期望等内容的调查问卷,随机对680户不同收入水平的上海居民家庭的资产配置状况进行数据采集与分析,对比不同收入家庭的风险偏好测试结果,我们发现上海居民家庭整体上都是风险厌恶的,但低收入家庭的风险偏好往往强于高收入家庭,同时不同收入家庭在资产配置时都存在着行为金融学上的非理性行为。结合家庭未来的期望理财计划和国外发达国家家庭金融资产配置的状况,我们认为:居民家庭应当结合自身家庭收入及风险承受能力来选择资产配置的策略,转变观念,优化资产配置;而对于政府,应加快完善市场制度以降低居民预期的不确定性,同时鼓励、监督、引导金融部门开发适合居民需求的金融产品。
The research makes a survey on 680 households randomly chosen from the Shanghai families with varied incomes via a questionnaire covering the basic information, risk preference, current and future plans of management of their income. Comparing the results of risk preference of the families with different incomes, we find that on the whole the households of Shanghai are risk-aversed while they tend to be irrational in terms of behavior finance when dealing with their asset allocation. And yet the low-income families have more preference to risk than the high-income ones. Based on the analysis of the goals of their future finance planning and the assets allocation of the developed countries, we suggest that the household families should take into consideration their own risk-resistance capacity when deciding their asset allocation strategies so as to gain an optimized property. The government should accelerate the institutional establishment to reduce the uncertainty of family expectation by encouraging the financial institutions via essential guidance and regulation to develop more demanded products.
出处
《上海金融》
CSSCI
北大核心
2012年第6期10-15,116,共6页
Shanghai Finance
关键词
资产配置
问卷调查
风险偏好
Asset Allocation
Questionnaire
Risk Preference
