본 연구에서는 중국의 펀드투자 경험이 있는 금융소비자를 대상으로 펀드투자 관련 교육의 경험과 의향에 따라 ‘투자교육 경험집단’, ‘투자교육 잠재집단’, ‘투자교육 무관심 집단’으로 분류하여 펀드투자행동에 어떠한 차이가 있는지를 살펴보았다. 이로써 투자교육과 의향이 펀드투자자의 행동에 어떻게 반영되고 있는지를 파악하고 향후 중국금융소비자들의 투자교육에 대한 기초자료를 제공할 수 있을 것으로 생각된다. 본 연구의 결과를 바탕으로 중국의 펀드투자시장에 대한 제언을 하면 다음과 같다. 첫째, 중국의 펀드투자자는 정보획득과정에서 스스로 정보를 탐색하기보다는 주변 사람을 의존하여 소극적으로 탐색하는 편이다. 따라서 투자자들에게 정확한 정보를 제공하기 위해 접근성이 좋은 채널 확보와 만화나 스마트폰 앱 등과 같이 보다 쉬운 방식으로 관련 내용을 전달할 수 있도록 노력하여야 한다. 둘째, 모든 집단에서 투자자정보 확인서 작성, 투자자성향진단, 투자설명확인서 확인 등에 대해 솔직하게 작성하지 않는 투자자 존재하였으나, 투자교육을 받은 집단이 다른 집단에 비해 그 비중이 상대적으로 더 적었다. 이는 금융회사나 중국소비자협회에서 투자자들에게 투자관련 교육을 제공하여 금융소비자의 책임감을 이끌 수 있음을 의미한다. 셋째, 금융소비자로서 이행해야 하는 행동을 올바르게 수행한 비중은 투자교육 경험집단, 투자교육 잠재집단, 투자교육 무관심집단의 순으로 나타났다. 따라서 향후 투자교육 대상자를 선정할 경우 그 효과가 높을 것으로 예상된다.
This study targets China’s fund investors, with the aim of studying investment behavior with regard to the fund-purchasing process. In particular, the study focuses on the investment behavior and its dependence on the experience and intentions of fund invest education. The findings suggest the necessity of fund education, and fund education should be treated as a basic material. The results of this study are summarized as follows: First, based on the fund investment behavior results, the “source of information on the fund” before purchase for the “education group” was mainly from the financial institutions’ specific instructions, as well as the company’s website, whereas the “potential educational group” mainly used Internet information. When registering a fund, the first consideration of the “unconcerned with education group” was the company’s reputation regarding operational fund assets, with 32.4 percent indicating this, which is higher than for the other two groups. Before purchasing a fund, 32% of investors compared four or more different funds for the “education group” and the “potential educational group,” as opposed to only 13.2% for the “unconcerned with education group”. Second, with regard to investors who buy funds through financial institutions, the investment behavior when purchasing a fund and the reasons for the financial institutions selected can be divided into three categories: for the “education group,” the major reason is to select the type of commodity; for the “unconcerned with education group,” the major reason is proximity to home or company; and the “potential education group” pays attention to the qualifications of the sales staff qualifications. A higher proportion of the education group checks the qualifications of sales staffs, avoids fund companies that have received negative news recently, confirms investment instructions carefully, and asks for further explanation if they do not understand. Based on these results, fund education plays a key role in determining fund purchasing, and has an important and positive impact on investment behavior. In addition, fund education for those purchasing funds through networks also plays a key role. Third, in examining the results on whether or not investors check the management report, the “education group” and the “unconcerned with education group” have a higher relative proportion. The “education group” members are educated so they read the management report, which further demonstrates the need for education. For the “unconcerned with education group,” although they have a high proportion who read the management report, their lack of intention to seek further education reflects their over confidence in understanding fund products. In reviewing the results on the frequency of investment achievement and assets constitute content confirming, the “education group” and the “potential education group” do not often confirm investment results, which is consistent with Park (2015), who examined investment in education of those showing over confidence. The “unconcerned with education group,” in comparison with the other groups, confirm the outcome of investments relative to the high frequency. Several recommendations are presented based on these conclusions.: First, in order to provide accurate information to fund investors, financial institutions need to establish easily accessible channels, such as comic books and mobile phone software. Second, in investor information confirmations, tendency determinations, instructions confirmations, and other processes, there are no real circumstances of individual consummation. The correct use of specific educational content will correct investment behavior. Third, among the fund investors, few correctly performed the action, with the proportions increasing in the order of the “education group,” “potential education group,” and the “unconcerned with education group.” The “potential education group” can be better predicted with respect to the potential effects of higher education than the other groups, and potential fund education needs to be targetedin educational research.