On the Measuring of Coefficient of Risk Aversion of the Chinese Residents and Factor Analysis
通过问卷调查收集中国居民投资行为数据，建立模型测度风险厌恶系数，并从个体风险承受能力和主观态度两个角度分析差异，为经济学家、金融机构和监管者提供参考。
The paper collects firsthand data about the Chinese residents' investment behavior through survey,establish models on measuring their coefficients of risk aversion,and analyze differences in risk aversion from the perspective of individual's risk-bearing capability and his/her subjective attitudes towards risks,in which the former perspective is mainly reflected by his/her demographic features and wealth.Based on the results,the authors advice that economists,financial institutions and regulators should all take people's demographic features and wealth into account when doing researches,developing and introducing financial products,educating investors and instituting regulations respectively.