基于代际差异的证券监管者非理性行为比较
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摘要
以61名证券市场监管者与253名企业管理者为研究样本,采用列联表、卡方检验以及相关性分析等方法 ,基于代际差异的角度,对"70后"证券监管者与"80后"、"90后"企业管理者心理账户存在性进行比较。研究结果表明:中国情境下,"70后"证券监管者与"80后"、"90后"企业管理者心理账户偏差水平存在显著差异,且"70后"证券监管者在决策时,更容易受到心理账户偏差的影响;代际间心理账户水平随决策情境不同而发生显著变化,在某些特定情境下,心理账户甚至消失;学历与心理账户水平不相关,性别在不同情境下,对心理账户水平产生不同影响。最后提出相应对策建议:监管者在正视自身所存在的非理性行为的前提下,应借助培训,培育理性思维;要加强对监管者的监管,保证监管机构有序运行。
Taking 61 securities regulators and 253 enterprise managers as the research samples and using the contingency table, chisquare test and correlation analysis methods, this paper carries on the comparative research on the mental accounts level among the 1970 s securities regulators and the 1980 s and 1990 s enterprise managers, from the perspective of generational differences. The results shows that in China, compared with the1980 s and 1990 s enterprise managers, there exists higher mental accounts level for the 1970 s securities regulators. When making decisions, the securities regulators are most easily affected by the bias. The significant differences of the inter-generational mental accounts level and genders vary obviously as the decision context changes, and in certain context, mental accounts e en disappear. There is no significant correlation between education and mental accounts level. Finally, the paper puts forward some relevant policy suggestions. Base on the correct cognition of the irrational behavior, the securities regulators should cultivate rational thinking by training,strengthen supervision over the securities regulators, and ensure the orderly operation of the regulatory agencies.
Taking 61 securities regulators and 253 enterprise managers as the research samples and using the contingency table, chisquare test and correlation analysis methods, this paper carries on the comparative research on the mental accounts level among the 1970 s securities regulators and the 1980 s and 1990 s enterprise managers, from the perspective of generational differences. The results shows that in China, compared with the1980 s and 1990 s enterprise managers, there exists higher mental accounts level for the 1970 s securities regulators. When making decisions, the securities regulators are most easily affected by the bias. The significant differences of the inter-generational mental accounts level and genders vary obviously as the decision context changes, and in certain context, mental accounts e en disappear. There is no significant correlation between education and mental accounts level. Finally, the paper puts forward some relevant policy suggestions. Base on the correct cognition of the irrational behavior, the securities regulators should cultivate rational thinking by training,strengthen supervision over the securities regulators, and ensure the orderly operation of the regulatory agencies.
引文
[1]郝旭光.中国证券市场监管有效性研究[J].中国工业经济,2011,(6).
[2]郝旭光,朱冰,张士玉.中国证券市场监管政策效果研究———基于问卷调查的分析[J].管理世界,2012,(7).
[3]Thaler R.. Mental Accounting and Consumer Choice[J].Marketing Science,1985,4(3):199-214.
[4]李爱梅,曾小保.心理账户的概念及其本质特征[J].生产力研究,2004,(9).
[5]李爱梅,凌文辁.心理账户的非替代性及其运算规则[J].心理科学,2004,(4).
[6]李爱梅.心理账户与非理性经济决策行为研究[M].北京:经济科学出版社,2007.
[7]韩丹.基于心理账户理论对返券促销的心理学分析[J].商场现代化,2008,(7).
[8]李爱梅,凌文辁.心理账户与薪酬激励效应的实验研究[J].暨南学报(哲学社会科学版),2009,(1).
[9]贺伟,龙立荣,赵海霞.员工心理账户视角的薪酬心理折扣研究[J].中国工业经济,2011,(1).
[10]李爱梅,郝玫,李理,等.消费者决策分析的新视角:双通道心理账户理论[J].心理科学进展,2012,(11).
[11]郝旭光,佟薇.中国证券监管者心理账户、过度自信及锚定效应的关联性研究[J].北京工商大学学报(社会科学版),2014,(1).
[12]M·米德,著.曾胡,译.代沟[M].北京:光明日报出版社,1988.
[13]成伟,陈婷婷.代际差异与冲突之分析[J].长白学刊,2009,(6).
[14]Mowen M M, Mowen J C.. An empirical examination ofthe biasing effects of framing on business decisions[J].DecisionSciences,1986,17(4):596-602.
[15]Kahneman D..Thingking,Fast and Slow[M].NewYouk:Farrar,Straus and Giroux,2011.
[16]Cooper C.. and Dunkelberg,C.Entrepreneurs’Perceived Chances for Success[J].Journal of BusinessVenturing,1988,(3).
[17]Heaton B..Managerial Optimism and Corporate Finance[J].Financial Management,2002,(31).
[18]Malmendier U, Tate G.. CEO overconfidence andcorporate investment[J].Journal of Finance,2005,(11):2661-2700.
[19]郝颖,刘星,林朝南.我国上市公司高管人员过度自信与投资决策的实证研究[J].中国管理科学,2005,(5).
[20]郝旭光,佟薇.中国证券监管者心理账户、过度自信及锚定效应的关联性研究[J].北京工商大学学报(社会科学版),2014,(1).
[21]Mannheim K.. The Problem of Generations[M].London:Routledge&Kegan Paul,1952:276-322.
[22]郑红娥.从媒体的变迁看青年消费观念的演变[J].中国青年研究,2006,(1).
[23]尤佳,孙遇春,雷辉.中国新生代员工工作价值观代际差异实证研究[J].软科学,2013,(6).
[24]王洪青,彭纪生.辱虐管理对员工心态的影响:代际差异的调节效应研究[J].商业经济与管理,2015,(1).
[25]Lee A Y, Aaker J L..Bringing the frame into focus:theinfluence of regulatory fit on processing fluency and persuasion.[J].Journal of Personality&Social Psychology, 2004, 86(2):205-18.
[26]S Gchter, Johnson E J, Herrmann A..Individual-LevelLoss Aversion in Riskless and Risky Choices[J].GeneralInformation,2007,1(2):37-39.
[27]Schweitzer M E.. The construction of mental accountsin benefits decision making[J].Benefits quarterly,1998,15(1):52-56.
[28]Kahneman D,Tversky A.. On the study of statisticalintuitions[J].Cognition,1982,11(2):123-141.
[29]Moon P, Keasey K,Duxbury D.. Mental accounting anddecision making:The relationship between relative and absolutesavings[J].Journal of Economic Behavior&Organization,1999,38(2):145-153.
[30]Duxbury D, Keasey K, Zhang H, et al.. Mentalaccounting and decision making:Evidence under reverseconditions where money is spent for time saved[J].Journal ofEconomic Psychology,2005,26(4):567-580.
[31]Tversky A,Shafir E..CHOICE UNDER CONFLICT:TheDynamics of Deferred Decision[J]. Psychological Science,1992,3(6):358-361.
[32]Chatterjee S, Heath T B,Min Junhong. TheSusceptibility of Mental Accounting Principles to EvaluationMode Effects[J].Journal of Behavioral Decision,2009,22(2):120-137.
[2]郝旭光,朱冰,张士玉.中国证券市场监管政策效果研究———基于问卷调查的分析[J].管理世界,2012,(7).
[3]Thaler R.. Mental Accounting and Consumer Choice[J].Marketing Science,1985,4(3):199-214.
[4]李爱梅,曾小保.心理账户的概念及其本质特征[J].生产力研究,2004,(9).
[5]李爱梅,凌文辁.心理账户的非替代性及其运算规则[J].心理科学,2004,(4).
[6]李爱梅.心理账户与非理性经济决策行为研究[M].北京:经济科学出版社,2007.
[7]韩丹.基于心理账户理论对返券促销的心理学分析[J].商场现代化,2008,(7).
[8]李爱梅,凌文辁.心理账户与薪酬激励效应的实验研究[J].暨南学报(哲学社会科学版),2009,(1).
[9]贺伟,龙立荣,赵海霞.员工心理账户视角的薪酬心理折扣研究[J].中国工业经济,2011,(1).
[10]李爱梅,郝玫,李理,等.消费者决策分析的新视角:双通道心理账户理论[J].心理科学进展,2012,(11).
[11]郝旭光,佟薇.中国证券监管者心理账户、过度自信及锚定效应的关联性研究[J].北京工商大学学报(社会科学版),2014,(1).
[12]M·米德,著.曾胡,译.代沟[M].北京:光明日报出版社,1988.
[13]成伟,陈婷婷.代际差异与冲突之分析[J].长白学刊,2009,(6).
[14]Mowen M M, Mowen J C.. An empirical examination ofthe biasing effects of framing on business decisions[J].DecisionSciences,1986,17(4):596-602.
[15]Kahneman D..Thingking,Fast and Slow[M].NewYouk:Farrar,Straus and Giroux,2011.
[16]Cooper C.. and Dunkelberg,C.Entrepreneurs’Perceived Chances for Success[J].Journal of BusinessVenturing,1988,(3).
[17]Heaton B..Managerial Optimism and Corporate Finance[J].Financial Management,2002,(31).
[18]Malmendier U, Tate G.. CEO overconfidence andcorporate investment[J].Journal of Finance,2005,(11):2661-2700.
[19]郝颖,刘星,林朝南.我国上市公司高管人员过度自信与投资决策的实证研究[J].中国管理科学,2005,(5).
[20]郝旭光,佟薇.中国证券监管者心理账户、过度自信及锚定效应的关联性研究[J].北京工商大学学报(社会科学版),2014,(1).
[21]Mannheim K.. The Problem of Generations[M].London:Routledge&Kegan Paul,1952:276-322.
[22]郑红娥.从媒体的变迁看青年消费观念的演变[J].中国青年研究,2006,(1).
[23]尤佳,孙遇春,雷辉.中国新生代员工工作价值观代际差异实证研究[J].软科学,2013,(6).
[24]王洪青,彭纪生.辱虐管理对员工心态的影响:代际差异的调节效应研究[J].商业经济与管理,2015,(1).
[25]Lee A Y, Aaker J L..Bringing the frame into focus:theinfluence of regulatory fit on processing fluency and persuasion.[J].Journal of Personality&Social Psychology, 2004, 86(2):205-18.
[26]S Gchter, Johnson E J, Herrmann A..Individual-LevelLoss Aversion in Riskless and Risky Choices[J].GeneralInformation,2007,1(2):37-39.
[27]Schweitzer M E.. The construction of mental accountsin benefits decision making[J].Benefits quarterly,1998,15(1):52-56.
[28]Kahneman D,Tversky A.. On the study of statisticalintuitions[J].Cognition,1982,11(2):123-141.
[29]Moon P, Keasey K,Duxbury D.. Mental accounting anddecision making:The relationship between relative and absolutesavings[J].Journal of Economic Behavior&Organization,1999,38(2):145-153.
[30]Duxbury D, Keasey K, Zhang H, et al.. Mentalaccounting and decision making:Evidence under reverseconditions where money is spent for time saved[J].Journal ofEconomic Psychology,2005,26(4):567-580.
[31]Tversky A,Shafir E..CHOICE UNDER CONFLICT:TheDynamics of Deferred Decision[J]. Psychological Science,1992,3(6):358-361.
[32]Chatterjee S, Heath T B,Min Junhong. TheSusceptibility of Mental Accounting Principles to EvaluationMode Effects[J].Journal of Behavioral Decision,2009,22(2):120-137.
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