不同投資人對風險商品選擇之研究－以高雄縣市投資人為例

The Study on the Selection of Risk Financial Instrument for Different Investor-The Case of Investor on Kaohsiung County and City

賴鈺城(Yu-Cheng Lai) ； 林義欽(Yi-Chin Lin) ； 張明宗(Ming-Chung Chang)

《全球管理與經濟》 7卷2期 (2011/12) Pp. 73-95

https://doi.org/10.6565/JGME.2011.7(2).5

摘要

本研究以高雄縣市投資人為例來討論投資人之投資行為。指出收入較低的民眾其風險接受度低，教育程度與風險偏好呈現正向反應，男性對風險的偏好確實是高於女性，已婚者的風險態度是屬於風險偏好的。年紀越大者，越傾向於趨避風險。有子女的投資人對風險的態度是趨避的，都市裡的民眾風險偏好高於鄰近城市。從事製造業的民眾對於投資風險性商品有顯著趨避的態度，而從事高科技業的人口相對於服務業人口而言對於投資非風險性商品是較偏好的。而男性並不如預期中相對於女性對保險存有較不偏好的傾向，這可能是因為男性的平均壽命比女性短且職業上的危險性也比女性高，因此男性會傾向選擇投資保險。學生對投資股票的興趣顯然高於從事服務業的民眾，可能的原因是學生一般而言沒有家庭的負累而且學生對於利用課堂上所學的知識將之實際應用於投資上也可能較有興趣，因此造成學生對於投資股市較為熱衷。

關鍵字

風險趨避 ； 投資策略 ； 投資行為

並列摘要

Based on the surveyed data of Kaohsiung county and city, this article discusses the investment behaviors for investors. We find that the investors with lower income have lower risk tolerance. And the education goes positive with risk aversion. Male likes risk than female. Older investors and investors who have children will tend to risk averse. People in town like risk than suburb. Those who work in Hi-Tech compare to service industries like to invest riskless goods. Beyond our expectation, male are more willing to invest insurance product than female, and this may caused by the shortage of age and the harmfulness of their occupation. Students apparently have more interest to invest stock market than investors who work in service industries. Which result from that students usually are not married yet, therefore, their budgets are more unrestrained than those who have family. Besides, students are much more aware of new coming acknowledge and enjoy putting it into practice.

並列關鍵字

Risk averse ； Investment policy ； Investment behavior