An Empirical Study on the Driving Factors of Financial Management Behavior of the Middle-Aged and Elderly Based on Logistic Model

Abstract

With the rapid development of economy and society, people's demand and participation in investment and financial management are also gradually increasing. With the advent of an aging society, the participation of the middle-aged and elderly people in investment and financial management behavior is also gradually increasing, but so far, there is still a large space for development. This paper takes the middle-aged and elderly people as the research object, analyzes the basic situation of the middle-aged and elderly people's investment and financial decision-making through the literature analysis method, collects the specific data of the factors affecting the investment and financial decision-making through the questionnaire survey, and uses the logistic model and other methods to analyze the data. Finally, the regression analysis results show that age, financial knowledge, herding, risk preference and future expectation will have a significant impact on the investment and financial decision-making of the elderly. Through this research, this paper hopes to provide relevant financial institutions with opinions and references related to products, help the middle-aged and elderly people avoid the risk of financial fraud, and make a certain contribution to the development of financial market and the improvement of the participation of the middle-aged and elderly people in investment and financial management.