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《Journal of Financial Research》 2011-08
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On the Measuring of Coefficient of Risk Aversion of the Chinese Residents and Factor Analysis

WANG Sheng CAI Mingchao  
The paper collects firsthand data about the Chinese residents' investment behavior through survey,establish models on measuring their coefficients of risk aversion,and analyze differences in risk aversion from the perspective of individual's risk-bearing capability and his/her subjective attitudes towards risks,in which the former perspective is mainly reflected by his/her demographic features and wealth.Based on the results,the authors advice that economists,financial institutions and regulators should all take people's demographic features and wealth into account when doing researches,developing and introducing financial products,educating investors and instituting regulations respectively.
【Fund】: 国家自然科学基金课题(编号70971088)“多重背景风险关联下的生命周期投资模型”的阶段性成果
【CateGory Index】: F832.48;F224
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