子女性别与家庭金融资产选择

Shaped by Their Children:Child Gender and Household Financial Portfolio Choice

以往研究重点关注父母对子女的代际传递,但越来越多的学者开始关注子女是否会反过来塑造父母的行为和决策。本文利用中国微观调查数据,检验子女性别如何塑造家庭金融资产选择及其作用机制。结果表明:子女性别会影响家庭金融资产选择,受传宗接代等传统观念的影响,男孩会通过“为儿买房”机制增加家庭储蓄率、减少风险资产投资;由于女儿对父母提供的代际支持相对更多,女孩家庭参与养老和医疗保险的概率相对男孩家庭更低。

Previous studies focused on the intergenerational transmission of parents to children,but more and more scholars began to pay attention to whether children will in turn shape parents’behavior and decision-making.We use the micro survey data of China to test how the gender of children shapes the choice of household’s financial portfolio and its mechanism.The gender of children will affect the choice of households’financial portfolio.Under the influence of traditional concepts such as procreation,boys will increase household savings and reduce risk investment through the mechanism of“nurture-up-to-housing-support effect”;because daughters provide relatively more intergenerational supports,families with girls are less likely to participate in pension and health insurance than with boys.