Research On The Behavior Of Urban Residents’ Household Financial Assets Choice

The amount of the financial assets owned by household is a significant symbol of acountry’s economic and financial level, household financial assets occupy an importantproportion of the it and are a part of the country’s financial assets. For example, in China’sstock market at present, two-thirds of funds come from households. The rapid growth of thetotal household financial assets will accelerate the development of national economy; theoptimization of the configuration structure will also promote the positive change of thefinancial instruments in financial markets. Therefore, household financial assets play anincreasingly significant role in the operation of the national economy. On the microscopiclevel, the study on the features and influencing factors of the household financial assets’amount an structure would guide the resident families to plan the financial asset investmentreasonably, and provide an important basis for financial institutions to learn the investmentdemand of residents, in order to explore proper financial products; on the macroscopic level,the analysis of choice behavior of financial assets would help the government to realize thecharacteristics of residents’ choice behavior of residents financial assets, which wouldpromote them to make more reasonable financial system and move to the correct direction offinancial services. So, research on household financial asset allocation behavior hasconsiderable theoretical and practical significance.In recent years, with the deepening of the reform and openness in China, opening of thefinancial market gradually, the developing of domestic economy rapidly, increasing ofhousehold income, household financial development reached an unprecedented level. Fromthe middle of the last century, the amount of our country residents’ savings is on the increase,accompanying along with a variety of financial instruments advent and innovation, then thechoice space of the household financial assets is gradually expanding; As residents financeconcept is growing at the same time, diversification trend of residents’ financial assets choicebecome inevitable. However, with the household financial assets choice behavior more andmore complex, a series of related problems in this field produced. Whether the structure ofhousehold financial assets is reasonable? What is the difference of the amount and structureon financial assets from different household? What are the influencing factors on householdfinancial assets’ stock and structure? What kind of impact is it? What is the meaning of thestudy of household financial assets for macroeconomic policy formulation? How to formulate relevant policies to guide household optimizing the structure of household financial assets?According to above problems, by the theoretical analysis, measuring method ofstatistical analysis and comparative analysis, the writer did a systematic study on the countryhousehold financial assets choice behavior. Specifically, article was divided into the followingseveral parts.The first part is the introduction which mainly elaborated the research background,purpose and research significance, combed the existing researches, summarized research ideasand methods;The second part is about theory defining of the household financial assets choice, whereintroduced the concept and the development history of household financial, the kinds andcharacteristics of household financial assets and related household financial theory, laying thetheoretical foundation for empirical analysis later in this paper.The third part is the investment status analysis of household financial assets.Analyzingfrom two different angles which are the stock and structure of household financial assets, thewriter concluded that saving is still the major choice of the existing household financial assets,the investment type is kind of less, and domestic investment decision makers are easilyaffected by related factors because of lack of relevant professional knowledge and experience,etc.The fourth part analyzed the influencing factors of household financial assets choicebehavior. The external factors and internal factors, where the external factors mainly includethe listed companies, financial institutions, government, media agencies, as well as socialinteraction factors and the internal factors mainly analyzed the statistical characteristic of thehousehold investment makers, risk preference, the influence of factors such as familyeconomic conditions,are the two aspects of the content.The fifth part is the empirical study. Firstly, the writer put forward the theoreticalassumptions according to the theory analysis; secondly, the influence factors for choice offinancial assets brought by some statistical characteristics factors was analyzed from theperspective of statistical by micro survey data and summarized as five different aspects byfactors analysis, as latent variables of structural equation model; finally, the structuralequation model was constructed to further analyze the influencing factors and the impactdirection and degree of household financial assets choice, and then the conclusion wasaccounted out by verifying hypothesis.The sixth part put forward policy recommendations on the basis of conclusion.