文章基本信息

标题：Behavioral characteristics affecting household portfolio selection in Japan
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作者：Mizuki Nakajo ; Junnosuke Shino ; Kei Imakubo 等
期刊名称：Bank of Japan Review
出版年度：2017
卷号：2017
出版社：Bank of Japan
摘要：In Japan, cash and deposits continue to make up the vast majority of households' financial assets.Since the 2000s, the percentage of households holding risk assets as investment/savings-orientedfinancial assets has been growing moderately. Nonetheless, households holding no risk assets stillaccount for the majority. While the securities business industry and academics have identified a numberof factors impeding household investment in risk assets, the aim of this report is to re-examinehousehold behavior that prevents a move away from a concentration on cash and deposits.Understanding household behavior, such as households' reluctance to hold risk assets and insufficientplanning for the future, holds important lessons for future changes in households' portfolio choices, forthe debate on institutional reforms and the provision of products, and for the course of financialeducation.