Abstract
Predicting and analyzing behaviors of investors is of great value to financial institutions. This paper uses survey data from about 9,000 individual investors across China to explore the predictability of decision behaviors by studying demographic characteristics that are relatively easy to obtain. After applying Pearson’s chi-squared test, Spearman rank correlation test, and several data mining methods, we verified that demographic characteristics are closely linked to decision behaviors, and it would be an economical and feasible solution for financial organizations to build initial behavioral prediction models especially when investors’ behavioral data are insufficient.
Highlights
Accepted: July 1, 2018Published: August 9, 2018
This paper aims to analyze the capability to predict investment behaviors based on some demographic characteristics, and verify the feasibility and effectiveness of building behavior prediction models based on these characteristics
Understanding the behaviors of investors is of great value to many financial institutions
Summary
This paper aims to analyze the capability to predict investment behaviors based on some demographic characteristics, and verify the feasibility and effectiveness of building behavior prediction models based on these characteristics
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