居民公募基金投资意愿与选择的影响因素分析

Investigation on Influencing Factors of Residents’Investment Intention and Choice of Public Fund

通过文献分析,选出若干因子并分为四大类,分别是基金性质、基金绩效、投资能力、人际环境,基于此设计问卷。通过频数分析、信效度分析、lightGBM模型的拟合、SHAP算法的特征重要性分析发现,投资能力对于投资者选择投资公募基金至关重要。对于基金性质与基金业绩方面,投资者看重基金的稳健性及流动性等,同时希望基金经理的经验及能力越高越好。而人际环境方面的影响不大。正所谓认知影响行为,居民投资能力很大程度上决定了其投资意愿。因此,对于基金管理公司、基金代销公司和监管机构而言,可重点做好投资者教育,加大金融教育的力度。

Through literature analysis,several factors are selected,which are divided into four categories:fund nature,fund performance,investment ability and interpersonal environment design questionnaire.Through frequency analysis,reliability and validity analysis,fitting of lightGBM model,and characteristic importance analysis of SHAP algorithm,we finally find that investment ability is crucial for investors to choose to invest in public funds.Secondly,in terms of fund nature and fund performance,investors value the robustness and liquidity of funds.At the same time,the higher the fund manager’s experience and ability,the better.Interpersonal environment had little effect.