Property Wealth And Family Financial Asset Choice

With the steady development of China's economic and social development,the household wealth has been rising,the management demand for wealth has gradually increased.At the same time,China's financial market has been moving forward in the reform,the kinds of financial products on the market become more abundant,the people in the asset management has more alternative opportunities,it also comes with a variety of confusion and problems.So we can see that the research on Chinese family assets allocation has the certain pratical significance in guiding Chinese residents in terms of wealth management and investment and realizing the value of wealth.In the analysis of the current situation of the assets of Chinese families,this paper finds that the wealth of Chinese family property accounts occupies more than 70%of the total wealth of the family.In this case,the property wealth which has an impact on Chinese household financial allocation becomes a problem.Through the study on the current status of the family estate and financial assets,in combination with related literature,this paper proposed eleven hypothesis which influenced family financial asset allocation,and based on these assumptions,carried out a series of empirical research.As the research involves the configuration of the Chinese family financial asset,in order to make the empirical results more representative,this article is based on the investigation data of the national financial investigation by the family financial center of China in 2013,and select the sample of households in cities and towns as the basis of empirical research.The article is divided into five chapters.The first chapter mainly introduces the background and significance of the research,and gives a brief introduction to the research contents.The second chapter is the literature review,including the introduction of relevant theories and some factors that influence the selection of family assets.The third chapter is the present situation analysis of Chinese family assets,including the status quo of Chinese family property and financial asset allocation.The fourth chapter is empirical analysis of econometric model,including research hypothesis and the empirical analysis of models.It is also the key chapter of this paper.The empirical part includes two aspects:firstly,the study of the impact of the total real estate value on the total assets and financial assets of the family,which adopts the Tobit interception regression model.The second part studies the influence of the number of properties on the participation rate and share of the financial assets of each sub-item,and the part of participation rate is selected in the model of Probit binary value model,the part of share adopts Tobit intercept regression model.The fifth chapter is mainly the conclusion of the empirical study and some policy suggestions based on the conclusion.Though this paper found that some factors such as the occupational class of the head of the household which was not significant to family financial asset allocation through the empirical analysis,the influence of factors such as the total property value,the number of housing and householder age which had an effect on family financial assets with different degree of influence.This suggests that family financial asset allocation is affected by many factors,the government,banks and other financial institutions can base on the characteristics of the family finance to optimize the structure of household asset allocation.