胡先亮關(guān)于我國(guó)股民投資影響因素的調(diào)查報(bào)告

1、De es, sf： Hel o! in the r .tot I e Spring Fas l hed i ne sen of fu safeesenavesC.nfnce2013workshop,fulbackin eu anay of the curr et si ua.n, . ss 203 .ment plasHeeonbealofmycmpay w ork r.orts tie GeniAssemby, fr ”一0.PilaI,202backia| XX power compaie s adee to the parts . gea spii for guidance,com.e

2、he- impeme nt the sce ntic ccncet o" - i opmet prom i Ing - sea .esi saegy nda- focusonimpi-eta”, lea ,ma.- et, coniuusy impr ove, saeysiuaionifetepri-maagementbusnesmanagementandont oi s.c a nd sa.ze d, and the de dcat on of sf, manage a hamonious and m ocatc amosph of the good .uatonMai nidca

3、 os are as fol owst I e batey i ndiat i r： po-we ge nea.n totae. 785 bilonkW,beyondtheannuabudgeimpiamenta.n-paclyof35mH. k W, an inceae of 7r mi in kW.S totaid 425 biin k W, ecedi ng sae s of miiin kW theanua Exe cutive budge, a i ncea - of 79 miin k W. Seury meaues unpannedoutaggs25一.Nopesnaiinjuy

4、accidetoccurednomajoraentadabo<e, nomaor fie accidet s wihout e nVionmeta poiui on acie nts, fey for the e cnseutve yeasto ma ntai sta I ity to g ood postue.(u.nnssInaciaidiatorstotapills of 25 mii on Yuan, beynd t he annua budge of 一7 miin Yua,beyndtheDatangcompany iddx ! miinYuan,aIiceseof"

5、;miinYuan,FMasesmetatgadefu.Ene.ypowe supy sadad ca compi eig 3> g/k W, dow 01g /kW； ie. d auXiay powe cnsmpt on i 52%, dw ssins|efrmancegratyrducedcompaedtoiasyar,cabon019g/kW,suiudixde114g/kWNOx052gkW；.s emo -ekiecy of moe t ha 918%. Reia biiy index equiae I t aaiaiiy ac or i S4、，icese d 715% 1

6、0m a yea larie.'uiaent fccd ouage ae 018%,1116% re -cino te smepei od a yar eai erMaorIchevmet s is, shou d a dee to t he two "mange met .Item" bbss ste I gte ning tecnoigi ca esar c, sengte n hi dden ha zads contoi ad itinlc saey Eerrie consudon tok new se ps The tw o "manget sys

7、tm" fr imp.-mentFocsonpromotingthepoweofthecmpaIymannget systma nd the apicai on a id impiementat on of te saey iop fiesa maagement.Item, improve t he saey mannget systm, reizete .Item of laey cntoi. lurher rrguiteiecuiy rouie s, laey iupevs on a nd mang et new o. re t l.y tlche- cosld ioop. &#

8、39;te ngteing the lupeVsi on a n.mannget of ha b itua V oiain of sregheningthesaeysueVsiin of ousouci ng contac or. Caarid out isrng and auumn of seury in1spet ons, 10d contoi a nd inspect”-e, pr o-cin-e，and te 11ympc Gm - 1adite關(guān)于我國(guó)股民投資影響因素的調(diào)查報(bào)告調(diào)查目標(biāo)：首先，做關(guān)于股民投資影響因素的調(diào)查是為了深入了解股 民做出投資決策時(shí)心理影響因素的異同；其次，通過

9、了解，分析并給 出較為準(zhǔn)確的結(jié)論，影響股民投資績(jī)效的本質(zhì)是什么；最重要的目的， 是通過這次調(diào)查研究，綜合得出的諸多因素進(jìn)行總結(jié)，為自己將來(lái)的 投資道路做好鋪墊，打好扎實(shí)的理論根基，才能在實(shí)踐投資決策的時(shí) 候更理智，更準(zhǔn)確。調(diào)查時(shí)間：2011-7-22 至 2011-8-13調(diào)查對(duì)象：各種不同工資水平、消費(fèi)水平的廣大將閑置資金投資于股市的股民調(diào)查方式：抽樣問卷調(diào)查、網(wǎng)上收集數(shù)據(jù)及資料關(guān)鍵字：投資績(jī)效、全局因素、具體心態(tài)、個(gè)性特質(zhì)、投資習(xí)慣在投資過程中，總是會(huì)有很多種情緒，很多種體驗(yàn)，很多種心理狀 態(tài)伴隨你。挑逗你的神經(jīng)，沸騰你的血液，控制你的心跳，左右你的 思想。無(wú)論你多么的不情愿，或者多么的渴

10、望，它始終如一的在你買 進(jìn)和賣出的剎那，在你腦中浮現(xiàn)。那到底是什么呢？這就是我接下來(lái) 要調(diào)查的一一影響著人們投資決策的諸多因素。投資是個(gè)很泛的概念，它可以有很多種表現(xiàn)形式，最具代表性之一 的毋庸置疑，那就是股票投資了。已成為當(dāng)今社會(huì)最為普遍的投資管 道之一的股票投資，它的高風(fēng)險(xiǎn)高收益這一基本特點(diǎn)，促使人們?yōu)榱双@得高額的預(yù)期收益，將大量的閑置資金投入其中。那么這些人怎樣 做出選擇從中獲利呢？Degaes, sf： Hel o! in the r unuptot I e Spring Festival hed I ne sen of fur sfreesenaves Ccnfeence 20 13

11、 workshop, ful back i n ccaeu anay of the curr et si ua.n, dScuss 203 pment plasHeeonbealofmycmpay w ork r.orts tie GenlAssemby, for cnsain.PilaI,202backi! XX power compaie s adee to the part's " gea spii for guidance,compehe- impeme nt the sceti. concept of. l opmetprom Ung cstea desip sae

12、gy .da- focusonmplemetaion,lea-aag- et coniuusy impr ove, saeysiuaionIfetepri-maagement bus nes ma nagement a nd cont ol s.c a nd sa.ze d, and the de dcat on of sf, manage a hamonious and m ocatc amosph of the good .uaton Mai nidca os are as fol owst I e batey i ndiat I r： po-we ge neain totaed 785

13、bilonkW,beondtheannuabudgeimplamenta.n-paclyof35mH. k W, an inceae of 7r mi in kW.Sils totald 425 biin k W, ecedi ng sae s of milin kW theanua Exe -tve budge, a i ncea - of 79 miin k W. Seury meaues unpannedoutaggs25一.Nopesnalinjuyaccidetoccurednomajoraentadabo<e, nomaor fie accidet s wihout e nV

14、ionmeta polui on .cdes, 一 , for the e cnseutve yeasto ma ntai sta I lty to g ood postue.(u.nnssInaciaidiatorstotapills of 25 mil on Yuan, beynd t he annua budge of 一7 miin Yua,b-ndtheDatang compay idx 41.9 miinYuan, a I icese of " mi in Yua n, FM a sesmet at gade fu.Ene.y powe supy sadad ca com

15、pl eig 3> g/k W, dow 01g /kW； ie. d auXiay powe cnsmpt on i 52%, dw ssins|efrmancegratyrducedcompaedtolasya r, cabon 019 g /kW, sulu dixde 114 g /kW NOx 052 gkW；.s emo -ekecy of moe t ha 918%. Rela biiy index equiae I t aalaiiy ac or i S4、，icese d r|5% 10m a yea - re.'uiaent fccd ouage ae 018

16、%,1116% re -cino te smepei od a yar eal erMaor Ichevmet s is, shou d a dee to t he two "mange met lysem" bbss ste I gte ning tecnolgi ca esar c, sengte n hi dden ha zars contol ad itinlc saey Eerrie consucton tok new se ps The tw o "manget systm" fr imp.-mentFocsonpr omoting the

17、powe of thecmpaIymannget systma nd the aplcai on a id mpementtti on of te saey lop fiesa maagementlysem, improve t he saey mannget systm, relze te lysem of -e，cntol lurher rrgulte iecuiy rouie s, - e，iupevs on a nd mang et new o. re t | ay tlche- cosld loop.'te ngteing the lupeVsi on a n.mannget

18、 of ha b itua V oain of sregheningthesaeysueVsiin of ousouci ng contac or. Caarid out isrng and auumn of seury in1spet ons, 10d contol a nd i nspect n,ey pr o-cin-e, and "0ympc Gm - 1adite一、首先，我們來(lái)分析一下影響投資的全局因素，這其中就包括了主 觀因素和客觀因素。(1)宏觀經(jīng)濟(jì)因素宏觀經(jīng)濟(jì)發(fā)展的水平和狀況是影響股價(jià)的重要因素。記得在投資學(xué)課上，我們學(xué)過，“宏觀經(jīng)濟(jì)影響股價(jià)的特點(diǎn)：波及范圍廣、干擾

19、程 度深、作用機(jī)制復(fù)雜、股價(jià)波動(dòng)幅度較大”。在現(xiàn)實(shí)生活中，我們也 可以看得到，當(dāng)國(guó)家經(jīng)濟(jì)或區(qū)域經(jīng)濟(jì)持續(xù)穩(wěn)定發(fā)展，股價(jià)通常呈上升趨勢(shì)，此時(shí)，股民就會(huì)一擁而入，希望借助經(jīng)濟(jì)發(fā)展從股市中獲利。 像匯率變化、通貨膨脹也都是影響股票投資的重要因素。(2)公司經(jīng)營(yíng)狀況公司經(jīng)營(yíng)狀況好，股價(jià)上升，反之則股價(jià)下跌。許多有經(jīng)驗(yàn)的股票 投資者對(duì)于該股票的經(jīng)營(yíng)狀況非常重視。眾所周知的“股神”巴菲特，在他看來(lái)，股票投資的成敗最最重要的就是養(yǎng)成閱讀的習(xí)慣。有些人就不懂了，股票投資和閱讀會(huì)有什么必然聯(lián)系呢？那你可就大錯(cuò)特錯(cuò) 了。閱讀什么呢？那就是上市公司的財(cái)務(wù)年報(bào)，還有這只股票同行業(yè)的，尤其是它競(jìng)爭(zhēng)對(duì)手的財(cái)務(wù)年報(bào)。還要必要

20、的了解該公司盈利水平、 凈資產(chǎn)、公司銷售情況等等。這就是投資的全局觀，正所謂知己知彼、 百戰(zhàn)百勝就是這個(gè)道理了。(3)政策因素政策因素是影響股民投資的重要因素之一，尤其對(duì)中國(guó)股民來(lái)說，不可否認(rèn)，時(shí)至今日政策因素仍然很大程度的影響著中國(guó)股市，以至于中國(guó)股市在世界上有“政策市”之稱。這其中主要包括貨幣政策、De es, sf： Hel o! in the r .tot I e Spring Festival hed i ne sen of fu safeesenaves C.nf nce 20 13 workshop, ful back i n ccaeu anay of the curr et

21、si ua.n, . ss 203 .ment plasHeeonbealofmycmpay w ork r.orts tie GeniAssemby, fr cnsain.PilaI,202backia| XX power compaie s adee to the parts . gea spii for guidance,com.ehe- meme nt the sce ntfc - nc.t o" - i opmetprom Ung - sea .es saegy .da- focusonmplemetaion,lea ,ma.- et, coniuusy impr ove,

22、 saey siuai on i f etepri - maageme nt bus nes ma nagement a nd cont oi s.c a nd sa.ze d, and the de dcat on of sf, manage a hamoniousandm occatc amosphee of the good .uaton Mai nidca os are as fl owst I e batey i ndiat i r： po-we ge neain totaed 785 bilonkW,beyondtheannuabudgemplamenta.n-paclyof35m

23、H. k W, an inceae of 7r mi in kW.S tald 425 blin k W, ecedi ng s- s of millin kW theanuaExecutvebudge,aincea-of 79 mlin k W. Seury meaues unplannedou.ggs25一.Nopesnalinjuyaccidetoccurednomajoraentadabo<e, nomaor fie accidetswtoutenVionmetapoluion.cdes, fey for te e cnseutve yeasto ma nai sa I ly t

24、o g ood posue.>usnnssInaciaidiatorsttlpills of 25 mil on Yuan, beynd t he annua budge of 一7 mlin Yua,b-ndt he Daa ng compay idx 41.9 miinY-n, a I icese of " mi in Yua n, FM a sesmet at gade fu.Ene.y powe suply sadad ca compl eig 3> g/k W, dow 01g /kW； ie.ae d a y powe cnsmpt on i 52%, dw

25、ssins|efrmancegratyrducedcompaedtolasyar,cabon019g/kW,suludixde114g/kWNOx052gkW；.s emo -ekiecy of moe t ha 918%. Rela biiy index equiae I t aaiaiiy ac or i S4、，icese d r|5% 10m a yea larie.'uivlent fccd ouage ae 018%,1116% re -cino te smepei od a yar eal erMaor Ichevmet s ist shou d a dee to t h

26、e two "mange met .sem" bbss ste I gte ning tecnolgi ca esar c, sengte n hi dden ha zads contol ad itinlc saey Eerrie consuctontok new se ps The tw o "manget systm" fr imp.-mentFocsonpromotingthe powe of thecmpaIymannget systma nd the aplcai on a id mpementat on of te saey lop fie

27、sa maagement .sem, improve t he saey mannget systm, relze te .sem of -fey cntol lurher rrguaeiecuiy rouie s, fey iupevs on a nd mang et new o. re t lay tlche- cosld10P.ste ngteing the lupeVsi on a n.mannget of ha b itua V oain of stegheningthesaeysueVsiin of ousouci ng contac or. Caarid out isrng an

28、d auumn of seury in1spet ons, 10d contol a nd i nspec! n,fe, pr o-cin-fe, “ te0ympc Gm - 1adite財(cái)政政策、重要法規(guī)頒布等。舉個(gè)例子，在 2007年發(fā)生的“ 5.30” 事件中，監(jiān)管機(jī)構(gòu)為抑制股市的泡沫發(fā)生， 連夜將證券交易印花稅從 0.1%上調(diào)至0.3%,結(jié)果次日，股市大幅下跌，短短的 5個(gè)交易日股 市從最高點(diǎn)的4300狂瀉至3400點(diǎn)，讓世界為之震驚。足以見得，政 策的影響之大。(4)法律法規(guī)以及制度安排這點(diǎn)對(duì)股民投資影響不明顯，但一個(gè)法律法規(guī)及各項(xiàng)制度健全的證券市場(chǎng)有利于維護(hù)投資環(huán)境的穩(wěn)定性和安全

29、性，吸引更多的投資，促進(jìn)證券市場(chǎng)的穩(wěn)步發(fā)展。(5)周邊證券市場(chǎng)影響經(jīng)濟(jì)全球化將世界各地的資本市場(chǎng)緊密聯(lián)系在了一起，中國(guó)作為其中一個(gè)重要的組成部分，周邊證券市場(chǎng)的變化發(fā)展同樣緊密的影響著 中國(guó)證券市場(chǎng)的發(fā)展，這就是經(jīng)濟(jì)全球化的“牽一發(fā)而動(dòng)全身”的經(jīng) 濟(jì)效果。(6)心理因素投資者的心理因素我個(gè)人覺得是影響股民投資最為重要的因素。一切像以上所說的這些客觀因素都不是我們這些普通股民人為能夠改 變和控制的，在這樣看來(lái)，廣大股民基本都處在同一起跑線上。因此， 盈利還是虧損全全比的就是心理因素和投資頭腦。二、下面就透過統(tǒng)計(jì)圖表，結(jié)合實(shí)際，針對(duì)各種投資心態(tài)，各種投資 影響因素進(jìn)行初步的探究和分析。首先來(lái)看看這

30、張股票投資者投資績(jī)效的統(tǒng)計(jì)表：De es, sf： Hel o! in the r unuptot I e Spring Fas 、hed i ne sen of fu safeesenaves C.nf nce 2013workshop, fulback i n ccaeu anay of the curr et si ua.n, . ss 203 pment plasHee on beal of my cmpay w ork reors tie GeniAssemby, fr ”一0.P- I, 202 ba ck i a|XX power compaie s adee to the pa

31、rts . gea spii for guidance, com.ehe- impeme nt the sceti. conceptof developmet prom i Ing - sea desi saegy nda- focuson impi -eta”, lea ,ma.- et, coniuusy impr ove, saey .ai on i f etepri - maageme nt bus nes ma nagement a nd cont oi s.c a nd sa.ize d, and the dedcat mol sf, manage a hamoni ous and

32、 m ocatc amosph of the good .uaton Mai nidca os are as fol owst.e batey i ndiat i r： po-we ge neain totaed 785 bilonkW, b. ond the a nnuai budge mpl amenta.n - pacly of 35m,n k W, an inceae of 7r mi in kW.Sils totald '425 biin k W, ecedi ng sae s of milin kW theanua Exe cutive budge, a i ncea -

33、of 79 miin k W. Seury meaues unpanned outaggs 25 一.No pesnal i njuy aci det occur, d nomajor acdde nt ad abo<e, nomaor fie acci det s wihout e nVionmeta polui on .cdes, fey fr the e cnseutve yeas to ma ntai sta I ity to g ood postue.(u.nnss f nacia idiat ors tota prfis of 25 mil on Yuan, beynd t

34、he annua budge of f miin Yua,beynd t he Data ng compay idx 41.9 miinY-n, a I iccese of " mi in Yua n, FM a sesmet at gade fu.Ene.y powe supy sadad ca compl eig 3> g/k W, dow 01g/kW； ie.d a y powe ccnsmpti onr i 52%, dw ssins | efrmance gra ty rduce d compae d to las ya r, cabon 019 g /kW, su

35、lu dixde 114 g /kW NOx 052 gkW； .s emo -ekiecy of moe tha9L8%. Re- biiy inex equiae I t aalaiiy act or i 9l4r%, iccese d '15% fom a yea larie.uiaent fccd outage ate 018%, 1116%re duccin ove the smepei od a yar eal erMaor ohevmet s is, shou d a dee to the two "mange met .sem"bbss stre I

36、 gthe nig tecnolgi esar c, sengthe n hi dden ha zads control ad itrisc saey EEerrie consuction took new se ps The tw o "mangetsystm" frimp.-ment Foccs on pr omotig the powe of theccmpa I y manngetsystma nd the aplccai on a id mpementtti on of the saety lop fiesa maagement lysem, mprove the

37、 saety manngetsystm, relz the lysemof -fey ccntrol lurherrrgultele-iyrouies, fey lupeViion a nd mang etnew o. re to lay tohe-Uosidloop.'tengtheig thelupeVsion a n.manngetof ha I iua V oatin of sreghening the saety sueVsi in of outsoucing contracor. Caarid out isrng a nd a ,m of sry inspct ons, 1

38、0d contol a nd i nspect n,e, pr cin-e, and te0ympc Gm - 1admte成功人數(shù)比率(%失敗人數(shù)比率(%性別男7321、3526978、65女6321、3623278、64年齡20-353121、5311378、4735-506523、5521176、4550-654018、4317781、57資金量<10萬(wàn)8520、0034080、00>10萬(wàn)5124、0616175、94職業(yè)在職8517、4836783、52自由職業(yè)5127、5713472、43入市時(shí)間>2年9719、8039381、20<2年3926、53109

39、73、47注：比率=成功人數(shù)(或失敗人數(shù))/該類別總?cè)藬?shù)例：男性成功比率=73/342*100%=2435%通過對(duì)這張表的數(shù)據(jù)進(jìn)行分析，我們可以發(fā)現(xiàn)以下幾個(gè)問題：(1)從成功人數(shù)和失敗人數(shù)的比率就可以看出，股市中能夠保本或盈利的人只是少數(shù)。投資領(lǐng)域的人應(yīng)該都聽說過，股市中傳言著一個(gè)“一二七定律”，顧名思義，即從長(zhǎng)期來(lái)看，股市中只有 10%勺參與者能夠賺錢，20%勺參與者不虧不贏，而剩下的 70%勺參與者是虧損的。如果再考慮通貨膨脹、資金的時(shí)間價(jià)值和機(jī)會(huì)成本，可能 90%的參與者都是虧損的。所以這就告訴我們，“股市有風(fēng)險(xiǎn)，投資需謹(jǐn)3550慎”??！(2)年齡大小對(duì)投資績(jī)效的影響。首先，通過表可以看

40、出De es, sf： Hel o! in the r .tot I e Spring Fas l hed i ne sen of fu safeesenaves C.nf nce 20 13 workshop, ful back i n eu anay of the curr et si ua.n, . ss 203 .ment plasHee onbeal of my cmpay w ork r.orts tie GeniAssemby, fr ”一0.PilaI,202backia| XX power compaie s adee to the parts . gea spii for

41、guidance,com.ehe- impeme nt the sce ntic ccncet o" - i opmet prom i Ing - sea .esi saegy nda- focusonimpi-eta”, lea ,ma.- et, coniuusy impr ove, saeysiuaionifetepri-maagementbusnesmanagementandcont oi s.c a nd sa.ze d, and the de dcat on of sf, manage a hamoniousand m occatc amosphee of the goo

42、d .uatonMai nidca os are as fl owst I e batey i ndiat i r： po-we ge neain totaed 785 bilonkW,beyondtheannuaibudgeimpiamenta.n-paclyof35mH. k W, an inceae of 7r mi in kW.S taid 425 biin k W, ecedi ng sae s of miiin kW theanua Exe cutve budge, a i ncea - of 79 miin k W. Seury meaues unpanned ouaggs 25

43、 一.No pesnai i njuy accidet occure d nomajor a e nt ad abo<e, nomaor fie acci det s wtout e nVionmeta poiui on .cdes, fey for te e cnseutve yeasto ma nai sa I iy to g ood posue.>usnnssInacia idiat ors tti pills of 25 mii on Yuan, beynd t he annua budge of 一7 miin Yua,beyndtheDaang compay idx 4

44、1.9 miinYuan,aIiceseof"miinYuan,FMasesmetatgadefu.Ene.ypowe supy sadad ca compi eig 3> g/k W, dow 01g /kW； ie. d auXiay powe cnsmpt on i 52%, dw ssins | efrmance gra ty rduce d compae d to ias ya r, cabon 019 g /kW, suiu dixde 114 g /kW NOx 052 gkW；.s emo -ekiecy of moe t ha 918%. Reia biiy

45、index equiae I t aaiaiiy ac or i S4、，icese d r|5% 10m a yea larie.'uiaent fccd ouage ae 018%,1116% re -cino te smepei od a yar eai erMaor Ichevmet s ist shou d a dee to t he two "mange met .sem" bbss ste I gte ning tecnoigi ca esar c, sengte n hi dden ha zads contoi ad itinlc saey Eerr

46、ie consuctontok new se ps The tw o "manget systm" fr imp.-mentFocsonpromotingthepoweofthecmpaIy mannget systma nd the apicai on a id impiementat on of te saey iop fiesa maagement.sem, improve t he saey mannget systm, reizete .sem of -fey cntoi. lurher rrguiaeiecuiy rouie s, fey iupevs on a

47、 nd mang et new o. re t l.y tlche- cosld10P.ste ngteing the lupeVsi on a n.mannget of ha b itua V oiain of stegheningthesaeysueVsiin of ousouci ng contac or. Caarid out isrng and auumn of seury in1spet ons, 10d contoi a nd i nspec! n,fe, pr o-cin-fe，and te11ympc Gm - 1adite歲的投資者投資成功的比例最高，5065歲的中老年投資

48、者的投資 成功比率居末。為什么會(huì)出現(xiàn)這種現(xiàn)象呢？中年投資者在股市操作過 程中表現(xiàn)為獨(dú)立自主，操作意識(shí)強(qiáng)。因?yàn)樗麄兘?jīng)過了數(shù)十年的積累， 3550歲的投資者一般都已具有一定的生活基礎(chǔ)，進(jìn)入市場(chǎng)的目的 只有一個(gè)賺錢。而那些 2035歲的年輕投資者大都是為了尋找刺激和新鮮感，而不比中年投資者的明確操作目的性和較強(qiáng)獨(dú)立 性。對(duì)于中年投資者，變幻莫測(cè)的市場(chǎng)對(duì)他們的影響同樣不容小視，但 他們會(huì)有意識(shí)的規(guī)避風(fēng)險(xiǎn)大、波動(dòng)大的股票，對(duì)市場(chǎng)信息的判辨能力 較強(qiáng)，對(duì)機(jī)會(huì)識(shí)別和把握的能力也更強(qiáng)。與中年投資者相比，年輕的 投資者雖然具有精力旺盛、富于勇氣、敢于創(chuàng)新的優(yōu)勢(shì)，但同時(shí)也具 有情緒波動(dòng)大，股市經(jīng)驗(yàn)不足等諸多缺點(diǎn)。

49、最后，50 65歲老年投資者，受教育文化程度較前兩類投資者肯定是處于劣勢(shì)的。在我們身邊就可以看到不少老年投資者，大字都不識(shí)幾個(gè)，買進(jìn)賣出的消息還 是從街坊鄰居那兒道聽途說來(lái)的。當(dāng)然，老年投資者的投資心態(tài)也不 同了啦，他們既不是為了尋求刺激，也不是為了發(fā)家致富，而是為了 擺脫寂寞罷了，如此一來(lái)，成功比率居末很正常。(3)資金量大小對(duì)投資績(jī)效的影響。這個(gè)問題很容易理解，投入 資金量小，投資者不會(huì)在意許多，因?yàn)檩斱A也就這么多，他可以任這 些錢在股市里波動(dòng)起伏，自生自滅。但投入資金量大，投資者必然會(huì) 要花更多的精力來(lái)關(guān)注股票，才能達(dá)到降低風(fēng)險(xiǎn)、增加收益的目的。(4)職業(yè)不同所造成的投資者在投資績(jī)效上差

50、異最為明顯。在這Degaes, sf： Hel o! in the r unuptot I e Spring Festival hed I ne sen of fur sfreesenaves Ccnfeence 20 13 workshop, ful back i n ccaeu anay of the curr et si ua.n, dScuss 203 pment plasHeeonbealofmycmpay w ork r.orts tie GenlAssemby, for cnsain.PilaI,202backi! XX power compaie s adee to the p

51、art's " gea spii for guidance,compehe- impeme nt the sceti. concept of. l opmetprom Ung cstea desip saegy .da- focusonmplemetaion,lea-aag- et coniuusy impr ove, saey siuai on I f etepri - maageme nt bus nes ma nagement a nd cont ol s.c a nd sa.ze d, and the de dcat on of sf, manage a hamoni

52、ousand m ocatc amosph of the good .uaton Mai nidca os are as fol owst I e batey i ndiat I r： po-we ge neain totaed 785 bilonk W, be ond the a nnua budge impl amenta.n - pacly of 35mH. k W, an inceae of 7r mi in kW.Sils totald 425 biin k W, ecedi ng sae s of milin kW theanua Exe -tve budge, a i ncea

53、- of 79 miin k W. Seury meaues unpannedoutaggs25一.Nopesnalinjuyaccidetoccurednomajoraentadabo<e, nomaor fie accidet s wihout e nVionmeta polui on .cdes, 一 , for the e cnseutve yeasto ma ntai sta I lty to g ood postue.（u.nnssInaciaidiatorstotapills of 25 mil on Yuan, beynd t he annua budge of 一7 m

54、iin Yua,b-ndtheDatangcompay idx 41.9 miinYuan, a I icese of " mi in Yua n, FM a sesmet at gade fu.Ene.ypowesupysadadcacompleig3>g/kW,dow01g/kW；ie. d auXiay powe cnsmpt on i 52%, dw ssins | efrmance gra ty rduce d compae d to las ya r, cabon 019 g /kW, sulu dixde 114 g /kW NOx 052 gkW；.s emo

55、-ekecy of moe t ha 918%. Rela biiy index equiae I t aalaiiy ac or i S4、，icese d r|5% 10m a yea - re.'uiaent fccd ouage ae 018%,1116% re -cino te smepei od a yar eal erMaor Ichevmet s is, shou d a dee to t he two "mange met lysem" bbss ste I gte ning tecnolgi ca esar c, sengte n hi dden

56、 ha zars contol ad itinlc saey Eerrie consucton tok new se ps The tw o "manget systm" fr imp.-mentFocsonpr omoting the powe of thecmpaIymannget systma nd the aplcai on a id mpementtti on of te saey lop fiesa maagement lysem, improve t he saey mannget systm, relzetelysem of -e，cntol lurher rrgulteiecuiy rouie s, - e，iupevs on a nd mang et new o. re t | ay tlche- cosl