臺灣人民金融認知與理財行為之線性結構關係之研究

A Study on the Linear Structural Relations between Financial Perception and Behaviors of Financial Management of People in Taiwan

陳昭宇(Chao-Yu Chen)

指導教授 ： 李孟峰

國立臺北大學/商學院/統計學系/碩士(2010年)

摘要

本研究針對臺灣人民金融認知與理財行為為研究課題，使用財團法人台灣金融研訓院 (2007) 之調查資料，建立線性結構方程模式，以探討臺灣人民對金融認知與理財行為之因果關係。首先篩選問卷中同時涵蓋認知及行為兩部分之七項指標，並將所有問項整合為金融認知、資訊蒐集及理財行為等三大構面。接著對各構面分別進行因素分析，由金融認知構面萃取金錢管理、信用、風險與報酬、儲蓄認知四個潛在因子；資訊蒐集構面萃取金融資訊來源、資訊蒐集主動性二個潛在因子；理財行為構面萃取信用交易行為、各項投資掌握度、儲蓄行為三個潛在因子。以金融認知構面為自變項，資訊蒐集及理財行為構面為依變項，建構由因素萃取之潛在變項及原始題目之可觀測變項所組成之SEM模型，進行潛在路徑分析。
研究結果發現，四項金融認知與理財行為間之關係為：金錢管理認知正向直接影響資訊蒐集主動性；信用認知正向直接影響資訊蒐集主動性、各項投資掌握度、信用交易行為；風險與報酬認知正向直接影響資訊蒐集主動性、各項投資掌握度、信用交易行為、金融資訊來源；儲蓄認知正向直接影響信用交易行為，但負向直接影響金融資訊來源。而對於各項理財行為而言，均以風險與報酬認知對其影響最大。綜上所述，研究臺灣人民之金融認知與理財行為後發現，認知越正確者，越意識到風險分散之重要性，進而產生多角化投資行為；但以投資項目而言，較傾向保守型之儲蓄存款。

關鍵字

因素分析 ； SEM ； 因果關係 ； 金融認知 ； 理財行為

並列摘要

This study focuses on the relation between financial perception and behavior of financial management of people in Taiwan. The data collected by Taiwan Academy of Banking and Finance (TABF) in 2007 is applied to build the Linear Structural Equation Model to find causal relationship between financial perception and behavior of financial management. First, all questions which separate to seven indexes in the questionnaire are integrated into three dimensions: financial perception, information collection, and behaviors of financial management. Then we use Factor Analysis to find factors from each of these three dimensions. Financial perception contains money management perception, credit perception, risk-return perception, and saving perception. Information collection contains sources of financial information, and the activity of information collection. Behavior of financial management contains trade credit, investment control, and behaviors of saving. Finally, an SEM model with financial perception as independent variables, information collection and behaviors of financial management as dependent variables are built for path analysis.
This study finds that the relationship between financial perception and behaviors of financial management are: 1. Money management perception effects positively to the activity of information collection. 2. Credit perception effects positively to the activity of information collection, investment control, and trade credit. 3. Risk-return perception effects positively to all behaviors except behaviors of saving. 4. Saving perception effects positively to trade credit, but effects negatively on sources of financial information. In the aspect of all behaviors of financial management, the most influential factor is risk-return perception. In conclusion, the more correct perception about financial one has, the more important about risk reduction one will know, and he/she will never put all eggs in one basket. But in the aspect of investing objects, they prefer to deposits.

並列關鍵字

Factor Analysis ； SEM ； causal relationship ； financial perception ； behavior of financial management

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