How and to what extent does age influence investment decisions and performance for Chinese investors?

This study examines the impact of age on the investment decisions and performance of Chinese investors. Through a literature review and questionnaire survey (valid sample size: 123), the research reveals that as investors age, their risk aversion significantly increases, their investment portfolios tend to become more diversified, and they exhibit a stronger preference for long-term returns and capital preservation. Conversely, younger investors favor short-term high-yield investments and are more sensitive to macroeconomic shocks. The study validates that age affects investment behavior through multiple mechanisms, including risk attitudes, cognitive abilities, and behavioral biases. Additionally, gender differences emerge in stock selection experience, with men more likely to acknowledge the enhancement of investment skills through experience. However, the research is limited by a relatively small sample size, insufficient representation of older age groups, and gender imbalance. Future studies could enhance the generalizability and timeliness of conclusions by expanding sample sizes, optimizing sampling structures, and incorporating the latest literature.