The Impact Of Risk Perception,risk Preference And Financial Literacy On Internet Investment Behavior

Since the reform and opening up,China's economy has entered a new era.In recent years,big data,blockchain and artificial intelligence and other "hot words" emerge,especially the rapid development of mobile Internet,has changed people's way of life and investment behavior.In addition,digital finance is growing rapidly in China,and Internet investment has become mainstream,spawning more complex financial products and more convenient financial services.Therefore,it is very important to include subjective and objective factors in the study of investors' investment behavior.At present,there is less research on Internet investment behavior,more about the Internet itself model analysis,and the study of investor behavior factors more focused on some objective factors,in the real investment environment,often subjective some variables may have a decisive effect on investors' investment decisions.Moreover,the inclusion of investor behavior in the field of Internet finance research,this kind of interdisciplinary research is more in line with the current Internet investment environment.In this context,this study takes behavioral finance and perceptive risk theory as the theoretical basis,takes investment decision-making behavior as the explanatory variable,and increases financial literacy,risk preference and risk perception as the explanatory variable.First of all,through a large number of literature studies,the relationship between explanatory variables and interpreted variables is put forward a reasonable hypothesis.Among them,according to the literature summary,risk perception from the psychological,social,time,privacy,finance five risk dimensions to further subdivide.Then,on the basis of previous research,respectively,the reference can measure the interpretation of variables of the scale of the topic,through the questionnaire star,WeChat and other platforms to distribute questionnaires,collating and statistics after the credibility and validity test of the data,the collected data for descriptive statistics,statistics of the data and the relevant description.Using the OLS model to regression its correlation and explain the intermediate and regulatory effects between variables,the study studies whether the explanatory variables and the interpreted variables are significant and their correlation,and secondly,the PSM model uses the PSM model to study the causal relationship between Internet investment behavior and these explanatory variables.Finally,the OLS model regression results and PSM model analysis results are tested for robustness,and the conclusions we reach are further verified.Based on the empirical research conclusions,the corresponding suggestions are put forward from the perspectives of investors,Internet financial enterprises and relevant government departments,so as to guide investors to invest rationally,promote risk prevention and control and high-quality development of the Internet finance industry,and promote the healthy development of China's Internet financial market.