系统管理学报

系统管理学报 ›› 2021, Vol. 30 ›› Issue (1): 94-100.DOI: 10.3969/j.issn.1005-2542.2021.01.009

• 管理信息系统 • 上一篇    下一篇

互联网金融环境下智能投顾对于投资行为的影响

葛如一，胡蓉   

  1. 上海商学院 商务信息学院，上海 200235
  • 出版日期:2021-01-28 发布日期:2021-03-05
  • 作者简介:葛如一（1978-），女，博士，副教授。研究方向为电子商务与互联网金融。
  • 基金资助:
    教育部人文社会科学研究青年基金项目（19YJC630041）

Effect of Robo-Advisor on Investment Behavior Under the Environment of Internet Finance

GE Ruyi，HU Rong   

  1. Faculty of Business Information，Shanghai Business School，Shanghai 200235，China
  • Online:2021-01-28 Published:2021-03-05

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摘要： 基于国内知名网贷平台的数据，采用固定效应模型和双重差分分析方法，研究了智能投顾的使用对于投资者的投资金额和风险偏好的影响。实证结果表明，智能投顾的使用会减少投资者的单笔投资金额，增加投资者的总投资金额，并使得投资者的风险偏好趋于保守。研究结果丰富了智能投顾和行为金融学的研究内容，加深了智能投顾企业对于投资者行为的理解，使其可以更好地设计和完善相关服务。

关键词: 智能投顾, 投资行为, 风险偏好, 网贷市场, 互联网金融

Abstract: Based on the data collected from a renowned online lending platform, the effect of robo-advisor on the investment amount per loan, the total investment amount, and the risk preference of investors were examined by using the fixed effect model and the difference-in-differences model. It is found that the use of the robo-advisor reduces the investment amount per loan, increases the total investment amount, and reduces the risk tolerance of investors. This paper enriches the literature on robo-advisor and behavior finance, deepens the understanding of enterprises of the behavior of investors, and helps investors improve the design and implementation of robo-advisor services.

Key words: robo-advisor, investment behavior, risk preference, internet lending, internet finance

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