家庭股票投资的幸福侵蚀效应研究

A Study on the Happiness Erosion Effect Brought by the Family Stock Investment

家庭股票投资对家庭理财以及对家庭的幸福度均会产生重大的影响,证券投资市场上的信息奖金θ2<0表明存在负的信息外溢性,反映出证券交易制度设计的缺陷,是致使家庭中小投资者投资失利的重要原因,并测度分析了2013-2015年间城市家庭投资者获得的信息奖金θ2的变动状况,股票投资困境带给家庭的幸福侵蚀效应是一种投资风险。另外,不同阶层的家庭在股票投资中面对的幸福侵蚀效应差异也很大,富裕家庭更要面临股票投资带来的家庭财富传承困境以及财富耗尽的危机。

The Family financial management will produce certain effect on the family itself and the social stability. The negative information overflowing on the securities investment market is a sign of lack of good system design, that will lead to the loss of family stock investment. By measuring the information bonus of family investors of the small and mediumsized access to the investment market between 2013 and 2015, the family also face the happiness erosion effect brought by the stock investment. In addition, the different classes of family facing the happiness erosion effect in stock investment is largely different, the rich families must face the dilemma of wealth inheritance and the crisis of runing out of family wealth in stock investment.