Empirical Analysis on Individual Financial Behaviors and Decision-Making Bias in Japan

2016 Fiscal Year Final Research Report

• Project/Area Number: 26380412
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Money/ Finance
• Research Institution: Kansai University
• Principal Investigator: KOZU Takashi 関西大学, ソシオネットワーク戦略研究機構, 非常勤研究員 (40598942)
• Research Collaborator: SUEHIRO Toru
• Project Period (FY): 2014-04-01 – 2017-03-31
• Keywords: 意思決定バイアス / 行動ファイナンス / 物価変動率予想 / 金融リテラシー / インターネット調査 / アベノミクス / 個人投資家 / 金融行動

Outline of Final Research Achievements

We conducted the Web-based (Internet) surveys thrice in the research duration and collected from micro data with regarding to various individual investors' behaviors and awareness (their investment decisions on financial products, expectations on future price level change, and so on) in addition demographic attributes such as age and income. As a result, we obtained through the analyses statistically valid results such as basic characteristics of Japanese individual investors and the characteristics of their irrational investment behaviors, and changes in the expectations of future price level in the period of 2012-2017. Furthermore, we can make mention of the future work on financial education and the literacy.

Free Research Field

金融政策