数字化是否缓解了家庭风险资产的有限配置?——基于风险认知的传导机制

Has Digitization Alleviated the Limited Allocation of Household Risk Assets?Transmission Mechanism Based on Risk Perception

在中国数字化快速发展的背景下,探究数字化对家庭资产配置的影响可以促进居民财产性收入增长、扩大中等收入群体比重以及共同富裕实现。本文基于2017年和2019年中国家庭金融调查(CHFS)数据,利用传统计量模型和机器学习的因果森林算法实证分析数字化对家庭风险资产配置的影响及其作用机制,并检验了风险认知的中介作用。研究发现,传统数字化和移动数字化均能够通过提升家庭的风险认知缓解家庭风险资产的有限配置。相比传统数字化,移动数字化对家庭风险资产配置行为的影响更具普惠性。

In the context of China’s rapid digital development,exploring the influence of digitalization on household asset allocation can promote the growth of residents’property income,expand the proportion of middle-income groups and achieve common prosperity.Based on the 2017 and 2019 China Household Finance Survey(CHFS)data,this paper uses traditional econometric model and causal forest to empirically analyze the impact of digitalization on the allocation of household risk assets and the mechanism behind it,and examine the mediating effect of risk perception.The results show that,both traditional digitization and mobile digitization can alleviate the limited allocation of household risk assets by improving risk perception.Compared to traditional digitization,the impact of mobile digitalization on household risk asset allocation behavior is more inclusive.