投资者信息行为分析:信息源的选择与利用研究

Analysis of the Information Behavior of Investors:Research on the Selection and Use of Information Sources

文章采用案例研究与半结构化深度访谈法研究个体股票投资者信息搜寻过程中信息源的选择和利用。通过开放编码和描述性统计对数据进行定性和定量分析。研究发现,财经网站、电视及投资者自身是投资者的主要信息来源;质量、数量、时间及个人内在因素是投资者选择和利用信息源时考虑的主要维度;而方便性、客观可信性、权威性、使用习惯等则是用户选择信息源时遵循的主要标准。投资经验、投资知识和投资模式一定程度上影响用户信息源选择;信息源的选择和利用与投资者的投资成功与否有一定关系。

The study explores individual stock investors＇ information seeking behavior via case studies and semi structured in - depth interviews, specifically on the selection and use of information sources.Through open coding and descriptive statistics, we found that investors mainly use financial websites, television, and investors themselves as their main information sources. They consider the dimensions such as quality and quantity, time, and some individual factors and the specific criteria such as convenience, objectivity and credibility, authority, personal habit, and so on when they decide to select and use certain information sources. Several factors may affect investors＇ information source selection, including investment experience, knowledge on investment, and investment modes. Moreover, it is possible that investors＇ information source selection and use are related to their success or not in the market.