商业保险对中国中老年居民家庭风险金融资产配置影响——基于PSM方法的实证研究

The Impact of Commercial Insurance on the Allocation of Risk Financial Assets of Middle-aged and the Elderly Households in China: An Empirical Research Based on PSM

商业保险的迅速发展逐渐影响着中国中老年居民家庭的金融资产选择行为,通过2017年的家庭金融调查数据,采用倾向值匹配(PSM)方法,实证检验商业保险对中国中老年居民家庭风险金融资产配置的影响,并进一步分析这种影响的城乡异质性。研究发现,购买商业保险能够有效提高城乡中老年居民家庭参与风险金融资产的可能性,且相较于农村地区,城镇参与度变化的程度较高。这不仅为商业保险在稳定金融市场中发挥作用提供了经验证据,而且还为家庭金融的发展提供了可供参考的路径。

The rapid development of commercial insurance gradually affects the financial asset selection behavior of the middle-aged and the elderly households in China. By using the data of China’s household finance survey in 2017 and the method of PSM, the paper empirically studies the impact of commercial insurance on risk financial asset allocation of middle-aged and the elderly households in China and further analyzes the urban-rural heterogeneity of the impact. The study shows that buying commercial insurance can effectively improve the possibility of middle-aged and the elderly households of urban and rural areas in participating in risk financial assets. Moreover, compared with rural areas, the degree of participation in urban area is higher than that of the rural area. It not only provides empirical evidence for the role of commercial insurance in stabilizing financial markets, but also provides a reference for the development of family finance.