| Nowadays,the lives of the elderly have become the focus of social attention.According to the Maslow's hierarchy of theory,when the elderly are satisfied with their basic needs,they tend to pursue a higher level of needs to make their life better,and even aspire to achieve self-worth.Therefore,many elderly people turn to the stock market for investment.However,their information seeking behaviors in the process of stock investment are easily affected due to their own inexperience and external environmental factors.Therefore,the elderly may be exposed to false information,which would cause physical,mental and property damage.Based on such a background,the study focuses on the stock investment information seeking behaviors of the elderly.It explores the differences on demographic and stock investment characteristics and the influencing factors in elderly people's stock investment information seeking behaviors,which could help to understand the inherent law of their stock investment information seeking behaviors,and improve their ability of obtaining and distinguishing the stock investment information.In addition,the study can guide them to correctly identify and use stock investment information and provide them with some suggestions for improving the stock investment information literacy.According to the literature research and interview results,this study summarizes the factors influencing the stock investment information seeking behaviors of the elderly and constructs a model of these factors.Based on this,a questionnaire is developed.The questionnaires are distributed in most districts and counties of Tianjin mainly in the form of paper.And the electronic questionnaires are supplemented as an auxiliary form.A total of 308 questionnaires are effectively recovered.The study uses SPSS 25.0 version to carry on descriptive statistics to illustrate the demographics and stock investments situation of the sample as well as the proportion of stock investment information types and the preference of stock information sources.The study uses chi-square test to analyze the differences of the stock investment information types that the elderly pay attention to on different personal characteristics.The study also uses independent-sample t test,one-way analysis of variance and non-parametric test to analyze the differences of stock information seeking behaviors from different information sources on demographics and stock investment characteristics.Finally,hierarchical regression analysis is used to test the influencing factor hypotheses of the stock investment information seeking behaviors of the elderly and to modify the factor model.The study finds that the main demand for the elderly in Tianjin to search for stock investment information is to invest(not to learn knowledge about stock investment),and the types of the stock investment information concerned are diverse.There are significant differences in the types of stock investment information that the elderly people pay attention to.The male elderly people would pay more attention to the information of the industry sector,while the younger prefer the information about company and the stock market.The elderly people with high pension income would pay more attention to stock market information and companies' future development trend.The elderly with less investment experience pay more attention to the information about company,stock market,domestic and foreign news and future development trend,while the ones with a bit of investment experience would pay attention to sector industry information.And the elderly with a long-run investment behavior are more concerned about the industry sector information.The Internet is the primary information source for the elderly to search for stock investment information.There are differences on demographic and stock investment characteristics in the use of stock investment information sources.Older people prefer traditional information source and network information source.And the elderly with higher educational background prefer the network information source.Besides,the elderly with more stock investment experience prefer traditional information source and network information source.In addition,information demands has a significant positive effect on the frequency of stock investment information seeking of the elderly.The self-efficacy of psychological factors has a significant negative effect on the frequency of stock investment information seeking of the elderly.The negative emotions of psychological factors has a significant positive effect on the frequency of stock investment information seeking of the elderly.The task importance of task characteristics has a significant positive effect on the frequency of stock investment information seeking of the elderly.The accessibility and information quality in the characteristics of information sources have significant positive effects on the frequency of stock investment information seeking of the elderly.Self-efficacy has a significant negative moderating effect on the complexity of stock investment information seeking task and the frequency of stock investment information seeking.And accessibility has a significant positive moderating effect on information demands and the frequency of stock investment information seeking. |
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