金控時代的來臨,對於消費者而言,只要找單一窗口就能滿足其一次購足的需求;對金控公司來說,將有限的資源與人力整合,既能提升商品及服務的多元化,又能降低營運成本及提高資本效益。但金控公司陸續成立也帶給各個子公司的員工相當程度的業績壓力,因此有部分理財專員因為業績尚未達成,而將具有高風險高報酬的投資標的(例如連動債)介紹給不屬於該風險屬性的投資人去選擇。當投資者面臨到2008年金融海嘯,許多原本期望「保本」的投資人血本無歸,甚至與金融機構有訴訟的產生。因此,本研究冀望能成為投資者的工具書,提供理財專員除了透過自身經驗以及現有的風險問卷之外,較為客觀的衡量工具。 由於過去的實證研究較少著墨在人格特質與投資工具之間的關係,因此本研究冀望能夠利用Costa and McCrae(1989,1992b)提出的「人格五因素模式」分類方法,所產生的「五大人格特質」為基礎,將投資人的人格特質分為「開放性」、「謹慎性」、「外向性」、「親和性」與「神經質」五大類,再利用變異數分析來探討這五種相異人格特質的投資人,在選擇投資工具時是否具有顯著的差異。 研究結果顯示,五大人格特質當中僅有「謹慎性」對於投資工具之選擇具有顯著的影響;謹慎性程度越高的投資人,越傾向於投資股票、外匯、衍生性金融商品、黃金,以及房地產。研究結果亦代表投資人「謹慎性」的程度是影響投資工具選擇的關鍵人格特質。
Upon the era of financial holding, for consumers, they are looking for a single contact that can satisfy their purchasing demand; for financial holding companies, integrate the limited resources and manpower can increase products and service diversity and lower operational cost to increase capital benefits. However, financial holding companies continuing set up subsidiaries bring certain performance pressure onto the staff. Therefore, some financial advisors introduced high gain but high risk investment target (e.g. structure notes) to people not belonged in this risk domain as they did not achieve their performances. When facing the financial crisis in 2008, some investors hoping to “retain capital” thus lost a great deal amount of money, even resulted in legal actions with the financial institutes. Therefore, it is hoped that this research can be the tool for the investors, as well as providing an objective measures to the financial besides personal experiences and current risk questionnaires. As in the past few people described the relationship between the personality and the investment tool, this research use the “Five Factor Model” proposed by Costa and McCrae (1989, 1992b) to divide the personalities of the investors into “openness,” “conscientiousness,” “extraversion,” “agreeableness,” and “neuroticism.” Then use ANOVA analysis to discuss the differences of these investors with different personalities when choosing the investment tools. The results show that only “conscientiousness” has prominent influence on the choice of the investment tool; investors with higher conscientiousness tend to invest in stocks, foreign exchange, financial derivatives, gold and real estates. The results also show that “conscientiousness” level is the key personality in effect on the choosing of the investment tool.