臺灣金融人員共同基金投資選擇偏好之聯合分析應用

A Conjoint Analysis on Mutual Fund Investment Preference for Financial Personnel in Taiwan

10.6338/JDA.201602_11(1).0005

廖佩珊(Pei-San Liao)；戴允強(Yun-Chiang Tai)

共同基金選擇 ； 聯合分析 ； 從眾行為 ； 過度自信 ； 展望理論 ； Conjoint Analysis ； Mutual Fund Selection ； Herding Behavior ； Overconfidence ； Prospect Theory

Journal of Data Analysis

11卷1期（2016 / 02 / 01）

99 - 129

繁體中文

本研究運用聯合分析法探查臺灣金融從業人員針對共同基金的選擇偏好，結果發現短年資者偏好在銀行以單筆方式投資於股票型基金而反映出過度自信；中長年資者偏好在銀行與證券通路以定期定額方式投資固定收益型基金而展現出從眾行為與持有偏誤。研究亦發現投資者的資金主要來自於生活的剩餘且不偏好以單筆方式投資固定收益型基金。

In this study, we use the conjoint analysis to consider the impact to investors' preference on the mutual fund selection from the type of mutual funds, the investment channels and the ways of investment. We find the demographic characteristics and related investment situation have influence on the choice of mutual funds. Male has overconfidence bias and female has herding behavior. The people with younger tenure years and less family burden choose to invest through bank with stock mutual funds in a large sum. It coincides with overconfidence. The people with longer tenure years and more family burden choose to invest fixed income fund periodically. It coincides with herding behavior and endowment bias.

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