Consumption Concept And Household Financial Assets Selection

With the rapid development of Chinese economy, China’s household financial assets have tremendous changes compared to the previous structure, the family held more diverse financial products. Family portfolios of financial assets, the share of securities maintained rising, while the share of savings deposits and cash instead of declining. Selection of household financial assets is also increasingly diverse. As the impact of household financial assets portfolio of the economy deepened, more and more domestic scholars from different perspectives to study the issue of domestic financial assets selected.Many factors affecting the choice of household financial assets, this paper focuses on the relationship between consumption concept and the choice of household financial assets. Those hold different concept of consumption which made different choices of household financial assets. This article will be interpreted variable to: residents whether they hold shares, whether residents hold risky financial assets. We selected the consumption concept as explanatory variables, and the total income, risk attitudes, education, insurance, real estate, gender, health as a control variable in this paper. Using Chinese family financial investigation(CHFS) micro-data and Probit model to analyze the relationship between consumption concept and the choice of stocks and risks of financial assets, empirical results found that those hold forward and positive consumption concept are more likely to hold stocks and risks of financial assets, while the possibility of a traditional conservative residents holdings of financial assets and risk is greatly reduced. Further, we put forward some meaningful suggestions.