The Research Of Influencing Factors About Green Investment Behavior Of Social Public Investors

In recent years,environmental pollution increasingly serious,environmental problem has become one of the most important factors that affect the economic development.A large sum of data shows that environmental events have significantly impact on stock market,and then the concept of Green Security emerged.Rely on administrative power only is unable to thoroughly solve the problem of economy affect by environment.The public investors are needed to participate in the build of green security market.With the improvement of living standards,the public pay more attention to the environmental protection.But as a public investor,will they choose the green investment or not? Which factors affect the public investors' green investment behavior? How these factors influence? Study of these problems undoubtedly has important theoretical significance and practical value on construction of green securities market.Therefore,Chinese stock market is the only research background,the analysis of main factors affecting the public investors to different cognitive situation,cognitive factors and research the influence of the green investment behavior of investors to the public.Based on the related references,definition and theories,the influence factors of public investors' green investment behavior has been proposed.Consider social demographic and the way that public investors acquire the information.Build the theoretical model of public investors' green investment behavior,and then put forward related hypotheses.Based on the relevant data from the questionnaire,analyze the validity of data by the statistical software;test the hypothesis of green investment behavior's influence factors.These steps will provide theoretical basis to encourage the public investors' green investment.Based on two types of green investment behavior,the choice of stock and the holding time of each stock,a structure equation model has been built up and the conclusions were :(1)The individual-cognition factors that the green investment of public investors will work on the green investment behavior have a significant impact.Due to the difference of individual psychology and the complexity of individual behavior,there will be many unknown factors that impact the public investors' green investment behavior in reality.(2)The accesses to acquire the information have adjustment function on the green investment behavior.The public way to acquire environmental information has significant adjustment function of the public investors' selection behavior,and the private way to acquire environmental information have significant adjustment function of the public investors' holding time of stocks.(3)The total amount of investment,the time enter into the stock market and the average time of holding stocks of public investors lead to significant positive impact on public investors' green investment behavior.Based on the conclusions above,the recommendations have been proposed for the government,the listed company and public investors in order to build the Green Securities Market and promote the development of green economy.