大学生股票投资教育和认知偏差

Stock Investment Education and Cognitive Bias of College Students

摘要: 最近几年，越来越多的大学生将股票投资作为个人理财的方式并且在大学生活中进行着实际的操作。但是随着股票市场的涨跌较为频繁，大学生股民的心情也受到了影响，有些甚至影响到了个人的日常生活。在这样的背景下，本文以2022年浙江省10余所本专科学校的在校大学生为调查对象进行调研，从炒股和非炒股大学生“两个角度”分析大学生对股票投资的意见，旨在了解大学生股票投资的教育现状；其次，本文利用logit回归初步推断出当代大学生股票投资的主要原因有参加理财社团和自主学习股票投资相关知识；最后，本文从行为金融学角度考察了大学生股票投资的认知偏差，运用Apriori算法挖掘出投资教育现状是引起大学生股票投资认知偏差的主要因素，进而反思学校的理财教育，讨论引导大学生理性股票投资的策略，并提出改进投资教育状况的建议。

Abstract: In recent years, more and more college students have taken stock investment as a way of personal financial management and are carrying out practical operations in college life. However, as the stock market rises and falls more frequently, the moods of college students and stockholders have also been affected, and some have even affected their daily lives. In this context, this article takes college students from more than 10 colleges and universities in Zhejiang Province in 2022 as the survey subjects, and analyzes the opinions of college students on stock investment from the “two perspec-tives” of stock trading and non-stock trading college students, with the intention of understanding the current state of education on stock investment. Secondly, this paper uses logit regression to preliminarily infer that the main reasons for contemporary college students’ stock investment are participation in financial clubs and self-study of stock investment related knowledge. Finally, this article examines the cognitive biases of college students’ stock investment from the perspective of behavioral finance, and uses association rules to find out that the status quo of investment educa-tion is the main factor causing college students’ cognitive biases in stock investment. Then we re-think the financial education in schools, discuss the strategies to guide the rational stock invest-ment of college students, and put forward suggestions to improve the investment education situa-tion.