家庭人口指标对家庭金融资产配置程度的影响——基于CHFS中国家庭金融调查数据的研究

The influence of household population index on the degree of household financial asset allocation:Based on the data of CHFS China Household Finance Survey(CHFS)

根据2019年中国家庭金融调查(CHFS)数据,运用Probit和Tobit模型分析家庭人口特征对家庭金融资产配置程度的影响,发现城乡和地域的家庭资产配置具有异质性,用少儿、老年人口数替换少儿、老年抚养比,证明模型稳健。研究发现:年龄与风险性金融资产的配置呈倒U型关系。家庭规模越大,家庭资产配置程度越低。家庭金融资产配置会被老年人口比促进,而儿童人口占比则相反。性别、婚姻状况、政治面貌、健康状况、文化程度和风险偏好等变量均对家庭金融资产配置的程度产生显著影响,且相关的异质性、稳健性分析均支持以上结论。

Based on the data of China Household Finance Survey(CHFS)in 2019,Probit and Tobit models were used to analyze the influence of household demographic characteristics on the degree of household financial asset allocation and the heterogeneity of household asset allocation in urban and rural areas and regions was found.The dependency ratio of children and elderly people was replaced by the number of children and elderly people,which proved the robustness of the model.It is found that there is an inverted U-shaped relationship between age and the allocation of risky financial assets.The larger the household size,the less participation in risky financial asset allocation.The household financial asset allocation proportion will be promoted by ODR,while the proportion of the young population will inhibit it.Gender,marital status,political status,health status,education level,risk preference all have a significant impact on household financial asset allocation,and the relevant heterogeneity and robustness analysis support the above conclusions.