金融知识、收入风险与家庭金融市场参与行为

Financial Literacy、Income Risk and Household Financial Market Participation Behavior

本文基于中国城市居民家庭消费金融调查数据,研究了金融知识、收入风险对家庭金融市场参与行为的影响。通过双栏模型研究发现,金融知识对家庭金融市场参与意愿和参与程度都有显著的正向影响,金融知识水平提高1个单位,家庭参与金融市场的概率提升3.06%,参与金融市场的家庭投入资金比例将提高0.66%;收入风险对家庭金融市场参与意愿有显著负向影响,收入风险每增加1个单位,则家庭参与金融市场的概率减少2.92%。

Based on the data of Chinese Survey of Consumer Finances, this paper studies the effects of financial literacy and income risk on household financial market participation behavior. Through a double hurdle model study, financial literacy has a significant positive effect on the willingness and level of household financial market participation. With one unit higher of financial literacy, the probability of household financial markets participation will increase by 3.06%. The proportion of invested funds of household participating in financial markets will increase by 0.66%; Income risk has a significant negative effect on the willingness and level of household financial market participation With one unit higher of income risk, the probability of household participating in financial markets will decrease by 2.92%.