CAJ | 학술논문

个体投资者的行为对于证券市场的平稳运行有着重要影响。本文依据新疆地区272位股票市场个体投资者的有效问卷数据对新疆个体投资者的行为特征进行分析,结果表明：64%的新疆个体投资者具有风险意识,其中学历和久期与其正相关;68%的投资者更关注技术分析,而基本分析中更关注微观上市公司分析;新疆个体投资者普遍具有过度自信、损失厌恶、从众心理等非理性心理,但心理账户和跟庄心理并不严重。为此,相关部门应开展行之有效的投资者教育活动,投资者也应培养自身良好的心理素质,以提升其理性投资的行为。
개체투자자적행위대우증권시장적평은운행유착중요영향。본문의거신강지구272위고표시장개체투자자적유효문권수거대신강개체투자자적행위특정진행분석,결과표명：64%적신강개체투자자구유풍험의식,기중학력화구기여기정상관;68%적투자자경관주기술분석,이기본분석중경관주미관상시공사분석;신강개체투자자보편구유과도자신、손실염악、종음심리등비이성심리,단심리장호화근장심리병불엄중。위차,상관부문응개전행지유효적투자자교육활동,투자자야응배양자신량호적심리소질,이제승기이성투자적행위。
Individual investors＇ behavior has a significant impact on the smooth operation of the securities market. In this paper,according to the survey data of 272 individual investors in stock market in Xinjiang,we analyzed the behavior of individual investors of Xinjiang,the results showed that： 64% of individual investors have risk awareness in Xinjiang,wherein the degree and duration was positively correlated; 68% Investors are more concerned about technical analysis,and in the basic analysis,they are more concerned about microscopic analysis; Xinjiang individual investors generally have such non-rational psychological activities as overconfidence,loss aversion and herd mentality,however,their mental accounting and following the banker psychological activity are not serious. To this end,the relevant departments should conduct effective investor education activities,and investors should cultivate their fine psychological quality,in order to enhance rational investment behavior of investors.