金融素养能否影响家庭商业保险参与度?——基于中国家庭金融调查(CHFS)数据的实证分析

Can Financial Literacy Affect Home Business Insurance Participation?——Empirical Analysis Based on CHFS Data

本文基于中国家庭金融调查(CHFS)2017年的数据,采用Probit模型研究了金融素养对家庭商业保险参与度的影响。结果表明,金融素养水平的提升能够提高家庭商业保险参与度。异质性分析结果表明,西部和农村地区金融素养水平提升的作用更大。机制分析表明,随着家庭总收入的增加,金融素养对家庭商业保险参与度的影响呈现“倒U型”,而家庭总收入介于63595元至111100元之间的影响最大;偏好风险的居民,其金融素养水平的提高对家庭商业保险参与的影响越大,而对于风险中性和风险厌恶的居民而言,影响较小。

Based on the 2017 data from the China Household Finance Survey(CHFS), the Probit model was used to study the impact of financial literacy on household commercial insurance participation.It finds that the improvement of financial literacy level can increase the participation of household commercial insurance. The heterogeneity analysis results show that, compared with the eastern region,the improvement of financial literacy in the western and rural areas plays a greater role. Mechanism analysis shows that with the increase of total household income, the impact of financial literacy on household commercial insurance participation presents an inverted U-shaped, with the greatest impact on households with total household income ranging from 63,595 yuan to 111,100 yuan. For risk appetite residents, increased financial literacy levels had a greater impact on home business insurance participation, while for risk-neutral and risk-averse residents, the impact was relatively small.