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2022 | OriginalPaper | Chapter

12. Logistische Regression und Random Forests: Der Einfluss der Financial Literacy auf die Aktienmarktpartizipation in Europa

Authors : Anna Maria Matthies, Joachim Rojahn

Published in: Quantitative Forschung in Masterarbeiten

Publisher: Springer Fachmedien Wiesbaden

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Zusammenfassung

Ziel des Beitrags ist die Ermittlung des Einflusses der Financial Literacy auf die Aktienmarktpartizipation in Europa. Dabei interessiert insbesondere die Variablenwichtigkeit der Financial Literacy unter Kontrolle einer Vielzahl weiterer Einflussgrößen. Frühere Studien stützen sich mehrheitlich auf eine einzige Klassifikationstechnik, in der Regel eine Form der Regression. Da die Variablenwichtigkeit aber von der verwendeten Methode abhängen kann, kommt in diesem Beitrag neben der traditionellen logistischen Regression die Random-Forest-Technik zum Einsatz, die zu den Machine-Learning-Verfahren zählt. Die Analyse basiert auf den Daten der siebten Befragungswelle des Survey of Health, Ageing and Retirement in Europe (SHARE), die 2019 veröffentlicht worden sind. Die Ergebnisse sowohl der logistischen Regression als auch des Random Forests zeigen, dass die Prognosegenauigkeit für die Aktienmarktpartizipation zwar zunimmt, wenn die Financial Literacy berücksichtigt wird. Jedoch leisten Kontrollvariablen wie die individuelle Risikoeinstellung und Dummy-Variablen, die die Region des Wohnorts der Befragten abbilden, einen deutlich höheren Erklärungsbeitrag als Financial Literacy.

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Footnotes
1
Mit der Datennutzung ist folgende Erklärung abzugeben: „This paper uses data from SHARE Wave 7 (DOI: 10.6103/SHARE.w7.710), see Börsch-Supan et al. (2013) for methodological details. The SHARE data collection has been funded by the European Commission through FP5 (QLK6-CT-2001-00360), FP6 (SHARE-I3: RII-CT-2006-062193, COMPARE: CIT5-CT-2005-028857, SHARE-LIFE: CIT4-CT-2006-028812), FP7 (SHARE-PREP: GA N°211909, SHARE-LEAP: GA N°227822, SHARE M4: GA N°261982) and Horizon 2020 (SHARE-DEV3: GA N°676536, SERISS: GA N°654221) and by DG Employment, Social Affairs & Inclusion. Additional funding from the German Ministry of Education and Research, the Max Planck Society for the Advancement of Science, the U.S. National Institute on Aging (U01_AG09740-13S2, P01_AG005842, P01_AG08291, P30_AG12815, R21_AG025169, Y1-AG-4553-01, IAG_BSR06-11, OGHA_04-064, HHSN271201300071C) and from various national funding sources is gratefully acknowledged (see www.​share-project.​org).“ Für methodische Details zur siebten Befragungswelle siehe Bergmann et al. (2019).
 
2
In diesem Beitrag wird für die statistischen Tests die Software R, Version 3.6.1, verwendet (R Core Team 2021).
 
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Metadata
Title
Logistische Regression und Random Forests: Der Einfluss der Financial Literacy auf die Aktienmarktpartizipation in Europa
Authors
Anna Maria Matthies
Joachim Rojahn
Copyright Year
2022
DOI
https://doi.org/10.1007/978-3-658-35831-0_12

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