An Experimental Study Of The Influence Of Investors' Personal Traits And Family Environment On Investment Income

In recent years,many empiricists and experimental economists have argued that how people's personal traits or the external environment affect their behavior and returns in the capital market is a question worth exploring.In this regard,this dissertation explores the factors such as risk attitude,cognitive ability,age and family environment from the perspective of individual investors' internal traits and environment.Based on the existing research,it will influence investors in a more comprehensive way.The factors of investment income are comprehensively characterized.On the basis of combing the theoretical research of scholars at home and abroad,this dissertation establishes a comprehensive measurement framework for the internal and external factors of influence,and innovatively combines the method of laboratory paper test with online simulation trading.The influencing factors are empirically analyzed to further analyze and test the intrinsic relationship between phenomena.Based on the research on data,the conclusions of this dissertation are as follows:(1)Under the significant bear market,investors have a nonlinear correlation between risk and loss aversion and investor income.(2)The individual's cognitive ability of investors will affect their investment income,and the process of cognitive ability will be affected by professional learning.(3)In the case of a bear market,among young investors,age and investment income are negatively correlated.(4)The more knowledge and investment experience of the investor's family,the higher the investor's investment income.The interaction between the family environment and risk attitudes has an impact on investor returns.Based on the research results,this dissertation proposes targeted recommendations from the perspective of investors and regulators,aiming to reduce the impact of impulsive entry into the market and irrational investment behavior on the market,reduce the probability of large market volatility,and promote a more stable Chinese securities market.