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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/48968


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    題名: 台灣銀髮族資產持有行為之探討
    The assets-holding of Taiwanese elders
    作者: 張日青
    貢獻者: 盧秋玲
    張元晨
    張日青
    關鍵詞: 老人　
    資產　　
    不動產　
    存款　
    股票　
    資產持有
    資產配置　
    似無關迴歸
    elder
    assets
    real estate
    savings
    stocks
    asset-holding
    asset-allocation
    seemingly-unrelated regression
    日期: 2009
    上傳時間: 2010-12-08 01:54:26 (UTC+8)
    摘要: 我們利用「台灣地區中老年身心社會生活狀況長期追蹤調查研究」這份資料，以似無關迴歸(Seemingly Unrelated Regression)模型，探討老人的資產持有行為，發現：一般老年人口並不偏好持有股票，持有行為相當少見，但高教育、高所得、都市化地區（尤其是直轄市）的老人，可能分別因為高教育程度、所得效果影響、都市地區資訊流通快速等因素，使得這類型老人明顯較願意持有股票。
    另一方面，在台灣，不動產扮演的角色特殊，傳統認為其與家族宗系連結，在持有行為上並非只從風險報酬觀點去看待，通常還與其他考量有關，因此在持有行為上有其特殊模式。
    同時，我們也發現，老人婚姻關係的消解(dissolution)，例如離婚/分居，將對資產持有產生負面的財富效果影響，使得這類型老人各項資產的持有都顯著低於已婚/同居的老人；而健康情形越差的老人持有的不動產與存款也越少，應與此類老人有較高的醫療與保健支出，造成負面的財富效果有關。
    除此之外，台灣老人平均而言，持有的不動產會隨年紀降低，但持有的存款會隨年紀而上升，主要與台灣老人隨著年紀上升，所得逐漸不足以維生，產生了反儲蓄(dissave)不動產的現象，有所關聯。我們認為台灣確實存在老人「以房養老」的現象。
    最後，我們認為很重要的一點是，台灣老人資產的持有行為，並不是使用傳統的風險報酬概念就能解釋，我們必須考量其他可能因素，才能有效分析台灣老人所表現出來的資產持有行為。
    The general elders don’t prefer to hold stocks, but the elders of high-level education, the elders of high-level income and the elders in metropolis are more willing to hold stocks.
    Besides, the real estate plays a special role. People regard that it is linked up with the family or kindred.
    We also find out that the dissolution of relationship in elder’s marriage causes negative wealth effect on holding assets. The similar effect exists in much unhealthy elders.
    The elders hold less real estate as they getting older, but hold more stocks. It might due to that elders dissave their real estate.
    Finally, besides perspective of risk-reward, it might appropriate that think the behavior of holding assets in other view-points.
    參考文獻: 中文文獻
    1.行政院內政部主計處(2010)，「臺閩地區各縣市現住人口數按性別及年齡分」。
    2.林珊如（2007）。「老人學科技整合研究資訊需求與研究資源之調查」，《行政院國家科學委員會專題研究計畫成果報告》，NSC95-2413-H-002-014。
    英文文獻
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    描述: 碩士
    國立政治大學
    財務管理研究所
    97357024
    98
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0097357024
    資料類型: thesis
    顯示於類別:[財務管理學系] 學位論文

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