Empirical Research Of Influencing Factors Of China Household Financial Assets

With the acceleration of the process of China’s reform and opening up, family has increasing number of financial assets. Choice of household financial allocation gradually become an important factor in China’s financial and even influence the financial industry and the whole the development of the national economy. Family finance will become the focus of theory and practice study in the future.At first, this paper gives a general introduction of the background and influencing factors of the household financial assets. We summarize the representative domestic and foreign literatures about the household financial asset allocation. In order to investigate the similarities and differences of the influencing factors, we use the SPSS software to process the questionnaire data and divide five categories of financial assets. We use eigenvalue of larger than one to extract three factors. In order to explore the similarities and differences of the influencing factors, we create the binary logistic regression model.Secondly, according to binary logistic regression and combining China’s urban-rural dual structure, we compare the regression results to reflect the similarities and differences in the choice of various types of household financial assets. In Urban and rural areas, their own circumstances are not the same. This leads the influencing factors to be different when the families select the household financial assets, so we need to divide into different types of families to study. The urban and rural samples were used to make two-step clustering. We divide urban and rural household samples into four categories. We summarize separately the basic characteristics of four categories of urban and rural families, and then use the binary logistic regression to explore their similarities and differences and point out the problem we should pay attention to. At the same time, we make a comparative study between urban and rural samples.Finally, we give a conclusion and some suggestions of the influencing factors of household asset allocation to financial institution. We point out the deficiencies of this paper and give some specific directions for further research.