数字金融能力对家庭风险性金融资产配置的影响研究

The Influence of Digital Financial Capabilities on Household Risk Financial Asset Allocation

利用2019年中国家庭金融调查(CHFS)数据,从微观视角探讨数字金融能力对家庭风险性金融资产配置多样性和配置比重的影响效应和机制。研究发现数字金融能力能够显著提高家庭风险性金融资产的配置多样性和配置比重。就提高家庭风险金融资产配置多样性而言,数字金融能力的作用在城镇居民、东部地区家庭、较高教育水平和较高财富水平的家庭中更加显著;就提高家庭风险性金融资产配置比重而言,数字金融能力的作用在农民、中西部地区家庭、较低教育水平和较低财富水平的家庭中更加显著。数字金融能力能够通过提升家庭风险偏好以及促进家庭保险配置等路径优化家庭风险性金融资产配置。因此,应注重提升居民数字金融能力水平,普及数字技能和金融知识,加大数字金融基础设施建设投入,缩小“知识鸿沟”“数字鸿沟”,促进家庭参与金融市场。

Using the data from the 2019 China Household Finance Survey(CHFS),this study investigates the impact and mechanism of digital financial literacy on the diversity and proportion of risky financial asset allocation within households from a micro-perspective.The study finds that digital financial literacy can significantly promote the diversity and proportion of risky financial asset allocation within households.In terms of improving the diversity of household risk financial assets allocation,the role of digital financial ability is more significant in urban residents,families in the eastern region,and families with higher education and wealth levels.In terms of improving the proportion of household risk financial assets allocation,the role of digital financial ability is more significant among farmers,households in central and western regions,and households with lower education and wealth levels.The digital financial ability can optimize the allocation of family risk financial assets by improving family risk preference and promoting family insurance allocation.Therefore,relevant departments should focus on improving residents' digital financial capability,popularizing digital skills and financial knowledge,increasing investment in digital financial infrastructure construction,narrowing the "knowledge gap" and "digital gap",and promoting family participation in the financial market.