家庭金融资产选择及影响因素研究进展

Research Progress on Household Financial Asset Selection and Influencing Factors

随着金融资产数量和比例的提高,家庭资产结构对家庭收入和消费的影响不断增大。家庭金融资产选择及影响因素,成为当前学术研究的热点问题。学者以传统资产组合理论为基础,从家庭收入、信贷约束、社会网络等多种视角,拓展了家庭金融资产选择的研究视角,提出了合理的解释。由于研究数据和方法的差异,对于这些因素的作用机制、影响路径和大小并没有得到一致性的结论。本文对国内外家庭金融的相关文献进行梳理,归纳家庭金融资产选择起源与成型、影响因素、行为金融学解释及不解之谜的研究进展,在此基础上总结当前研究的成果,分析值得改进的不足之处,展望未来可能进一步研究的方向。

The selection of household financial assets and influencing factors have become a hot topic in current academic research.Based on traditional asset portfolio theory,scholars have expanded the research perspective of household financial asset selection from multiple perspectives such as household income,credit constraints,and social networks,and put forward reasonable explanations.Due to differences in research data and methods,no consistent conclusions have been drawn on the mechanism,path and size of these factors.This article makes a survey of domestic and foreign literature on household finance and summarizes the development on the origin and formation of household financial asset selection,influencing factors,behavioral finance explanations,and puzzles.On this basis,it discusses the possible future research directions.