2013 Fiscal Year Final Research Report
Empirical Analysis on Japanese Individual Investors' Decision-Making Biases
| Project/Area Number |
23530393
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Kansai University |
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Principal Investigator |
KOZU Takashi 関西大学, ソシオネットワーク戦略研究機構, 研究員 (40598942)
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| Co-Investigator(Kenkyū-buntansha) |
TAKEDA Koichi 法政大学, 経済学部, 教授 (40328919)
TAKEMURA Toshihiko 佐賀大学, 経済学部, 准教授 (00411504)
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| Project Period (FY) |
2011 – 2013
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| Keywords | 意思決定バイアス / 行動ファイナンス / 個人投資家 / 金融リテラシー / インフレ期待 / 金融知識 / 預金引出行動 / Webアンケート調査 |
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| Research Abstract |
We have collected around 1,500 individual samples through Web-based surveys asking not only i) basic attributes such as age, income, academic career and living area, ii) their investment decisions on financial products, but also iii) decision making on bank deposit withdrawal and iv) expectations on future price level change. We have conducted 3 surveys and obtained through the analysis statistically valid results like; a) basic characteristics of Japanese individual investors, b) the relationships between investment literacy and over self-confidence/risk aversion, c) the relationship between bank deposit withdrawal decision and understanding of the pay-off system, and d) changes in the expectations of future price level before and after the second Abe administration started.
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Research Products
(11 results)
