Abstract：In railway equity investment and transportation product consumption process， railway equity investors often integrate with transportation product consumers. It is inferred that the main reasons are that investment can promote consumption through product portfolio effects， price discount effects， and enhanced membership benefits effects， and that consumption can promote investment by reducing information asymmetry effects and increasing investment confidence psychological effects. As a result， it can alleviate the financing constraints of railway transportation enterprises， expand transportation production capacity， improve transportation service quality， and achieve dual promotion of investment returns and consumption utility.This paper therefore proposes a hypothesis on the coupling effect of railway investment and consumption， which integrates individual investment and consumption behaviors into a single framework from a micro perspective. Starting from the individual behavior psychology and preferences of investor consumers， it focuses on the individual as the main body of economic activities. Using the full sample data of investment and consumption in the railway passenger transport industry， an empirical study is conducted on the integrated investment consumer behavior in the railway passenger industry. It reveals the following findings： the proportion of investors with consumption behavior in all investors is significantly higher than the proportion of the people with consumption behavior in the entire society； The consumption amount of integrated investment consumers is significantly higher than that of other consumers， and so does it in different age groups； There is a clear positive correlation between the investment and consumption of integrated investment consumers with an investment quota of over 2000 shares. Therefore， enterprises can bundle investment and consumption incentive policies， enhance the investment and consumption willingness of integrated investment consumers through membership consumption rebates and additional membership benefits.
颜颖, 叶蜀君, 李红昌. 铁路客运行业投资和消费耦合效应研究[J]. 北京交通大学学报(社会科学版), 2024, 23(4): 128-137.
YAN Ying, YE Shu-jun, LI Hong-chang. On the Coupling Effect of Investment and Consumption in Railway Passenger Industry. journal6, 2024, 23(4): 128-137.
2024, Vol. 23 
