| dc.description.abstract | This study is aimed to investigate the relationship between mutual fund investors’ investment behavior and risk preferences by conducting a questionnaire survey. The study then probes the efficiency of the commodity fitness system in the case bank. According to the risk degrees in the system, investors are divided into three groups - namely the first is conservative investors, the second is steady investors, and the third is active investors. While goods properties, according to the risk degrees, are also divided into three levels – respectively the first level is called conservative commodity, the second steady commodity, and the third active commodity. Next, the study takes into account all the variables of the investors, including gender, age, education level, income, etc. to verify the correlation. Further, the study generalizes the relation between different customer groups and preferred goods properties. Besides, the study examines investors’ investment behavior by means of their response to politics and economy-related information.
The results in this survey indicate both subjective and objective cognition when investors confront different risk degrees. It generally shows consistency between investment behavior and risk preferences in that conservative and steady investors prefer conservative and steady commodity. However, different from the theoretical studies, the active investors show no preference to active commodity. In addition, the target subjects are categorized into five groups - the public servants, the married employees, the unmarried employees, the housewives or the retired, and the professional group. It is found the public servants are conservative investors, and their preferred goods are of the 1st level; the housewives or the retired to be steady investors, and their preferred goods are of the 2nd level; the married and unmarried employees to be active investors, and their preference is of the 3rd level; the professional group to be active investors, but their preference is only of the 2nd level. Finally, a high correlation is found that investors’ investment behavior relates to their response to the influence of political and economic information. | en_US |