子女性别对家庭房产配置的影响——基于CHFS数据的实证研究

The Effect of Children’s Gender on Family House Property Allocation——An empirical rresearch based on CHFS dataset

使用中国家庭金融调查(CHFS)2017年数据,利用工具变量、基于Tobit模型探讨了子女性别对家庭房产配置的影响。研究发现,每多抚育一个男孩,家庭持有房产套数将显著增加,且家庭房产价值额及持有房产面积同步显著增加。基于家庭男孩比例指标展开的回归结果亦一致、稳健。子女性别对家庭房产配置的影响主要集中在有18~34岁适婚成年子女的家庭和中等收入家庭。动因分析表明,相较于子女教育,男孩越多或男孩比例越高的家庭以子女结婚为目的新购住房的比例显著增大。应警惕由子女性别差异引致的房产增持降低家庭资产多样性,进而引发家庭短期抗风险能力下降。

Using 2017 China Household Financial Survey(CHFS),this paper focuses on the effect of child gender on family house property purchase by means of instrumental variables and Tobit model.Research result shows that,with each additional boy born to the family,the quantity of family house property markedly increases,and meanwhile the value and area of family house property notably rises synchronously.The regression results for the ratio of boys in families were also consistent and robust.The influence of children's gender on family property allocation is mainly concentrated in families with 18 to 34 years old marriageable adult children and middle-income families.Motivation analysis shows that,as compared with children education,house property purchase significantly increases in those families with more boys or a higher ratio of boys,and the probability of their purchasing new houses for children getting married remarkably increases.One thing to watch out for is that the increase in family house property purchase caused by children’s gender might reduce the diversity of family house asset allocation and then decrease their short-term risk resistance.