Study On The Relationship Between The Holders’ Statistical Properties And Household Securities Assets Selection

The family is the smallest unit of the economy, which is the economic development starting and ending points. As market participants, market provides consumption and investment demand to the family, it also provides labor and capital to the market. Therefore, the choice of the family has a significant influence to the economy and the stock market development.Since the reform and opening up, the income of residents has been got greatly increases,wealth has been got greatly accumulation and financial market has been got greatly improved.Family investment has been got greatly increasing with income and wealth increasing. On the whole, the development of financial assets and income growth is consistent, but the securities asset development is far behind the development of income and financial assets. Our securities market has "limited participation puzzle". The external factors keep changing, but securities selection changes little, so the mainly factors due to the internal.Research ideas spread around the influencing factors.Firstly, according to the research background,discovering problems, and determining the object of study : holders’ statistical properties and household securities assets selection;secondly, analysis of the principle of household securities assets selection, and analysis of the effect mechanism based on the principle.Finally,analysis of the influence of demographic characteristics on the household securities assets selection.The research includes both the macroscopic and microcosmic aspects.On the macro level, taking the time as the span, analysis of the development of financial assets, securities assets and structure.So that we grasp the basic overview of household securities assets selection in general. Microscopic analysis includes statistical analysis and quantitative analysis. Statistical analysis mainly study of characteristics of holders’ statistical properties and rate in different factors.Quantitative analysis mainly uses the Logistic model to quantitatively analyze the influence to the probability of household securities assets selection.The study concluded that:1,Household securities assets growth rate lags behind the speed of income and financial assets development. 2, The proportion of household securities assets remained stable, lower level. 3, In risk preference, our country residents the risk aversion and risk preference with household securities assets selection has a positive relationship.The risk preference structure and relationship will reduce the proportion of household securities assets selection. 4,In income,there is income gap between rich and poor, income with household securities assets selection has a positive relationship. Income structure and relation relationship will reduce the proportion of household securities assets selection. 5, In wealth,there is wealth gap between rich and poor, wealth with household securities assets selection has a positive relationship. Wealth structure and relation relationship will reduce the proportion of household securities assets selection.6,In gender,women security selection is relatively higher than men, but it is not very obvious.7,In education, the proportion of people under university in the level accounted for 84%, education with household securities assets selection has a positive relationship.Education structure and relation relationship will reduce the proportion of household securities assets selection.(6)Age with household securities assets selection has a passive relationship, but it is not very significant.