能力效应与金融市场参与:基于家庭微观调查数据的分析

吴卫星; 徐芊; 王宫

能力效应与金融市场参与:基于家庭微观调查数据的分析

引用本文：吴卫星，徐芊，王宫.能力效应与金融市场参与:基于家庭微观调查数据的分析[J].财经理论与实践,2012,(4):31-35

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作者	单位
吴卫星，徐芊，王宫	(对外经济贸易大学应用金融研究中心，北京100029)

中文摘要:投资者主观能力感受对居民家庭金融市场参与有显著影响。基于中国居民家庭微观调查数据，根据家庭户主对市场了解程度的自我评价以及能力水平感受构建指标，发现居民家庭主观能力感受对居民家庭市场参与行为具有显著的正向影响。同时研究也发现教育程度、家庭收入和健康状况等均会显著影响居民家庭的主观能力感受。

中文关键词:家庭金融能力效应市场参与 

Competence effect and financial market participation: Evidence from Household Survey

Abstract:Investors' subjective competence has a significant effect on household participation in the financial market. Based on household survey, the model is built to estimate the relationship between the self-ssessment of the households' understanding of the market and their perceived ability. It is found that the household's perceived ability has a significantly positive effect on their market participative behaviors. And it also found that household subjective competence has been influenced by education, income and healthy.

keywords:Household finance Competence effect Market participation

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