The Influence Of Religious Tradition To The Household Financial Asset

With the continuous improvement of China's economic development level and the residents' disposable income,it is particularly important to maintain and increase the value of assets through asset allocation and wealth management.In the traditional asset portfolio theory,investors should diversify their investment in risk assets according to their own risk preference,wealth level and other conditions,so as to maximize their own utility.In fact,the study found that the proportion of investors' investment in risk assets,such as stocks,was far lower than the theoretical optimal proportion,that is,the phenomenon of "limited participation" in the stock market,which is more prominent in China.For a long time,domestic households tend to choose low-risk bank deposits in asset allocation,while the proportion of residents participating in risky assets such as stocks is relatively low.On the one hand,China's capital market is not mature enough,value investment has not become the mainstream of investment philosophy,there are relatively few varieties of risky securities,and the financial availability of household residents is relatively low.On the other hand,apart from the imperfect domestic financial market,the cultural difference between China and foreign countries is also an important reason for the low participation rate of the family stock market.Cultural factors have an important influence on individuals' world outlook and values,and religion is an important part of culture.Zeng Kanglin(2014)believes that the development degree of a region's financial cause is influenced by its financial awareness,which is not only related to the change of social system,but also related to the cultural and religious factors in the region,that is,culture and religion will positively stimulate and reversely constrain the change of financial awareness.First of all,the thesis uses the data from 2015 Chinese General Social Survey(CGSS2015),the samples in the investigation have been divided into two types-"religious investors" and "irreligious investors".After controlling for age,gender,level of education,the differences between urban and rural areas,income and other variables,it investigates the influence of religious factors on "whether to participate in risky securities investment" in the family,and found that religious factor have a significant impact on the security investment of the investors.Then,considering the different influences of different religions on the choices of family assets,this paper classifies investors with religious beliefs according to religious categories and examines the relationship between different religious categories and the choice of family assets.Through empirical research,it is found that residents who believe in Buddhism,Taoism and other local religions are more likely to participate in the investment of risk securities.Those who believe in Islam are less likely to invest in risky securities.For the residents who believe in Christianity,their religious belief has a relatively small impact on the choice of assets.Furthermore,this paper studies the influence of religious belief on the choice of family assets.According to the existing research results,religious belief may affect the family's choice of assets from three aspects: social interaction,entrepreneurship and life attitude.Based on the empirical analysis,this paper studies the three ways,in which the religious belief affects the choice of family assets from the above three aspects,and finally draws the path map of the functional mechanism.Finally,considering that Confucianism has always been the mainstream of traditional Chinese culture and its role in social development is similar to the religion.Confucianism is also called Confucianism to some extent.Given this,this paper identifies Confucianism with religion and studies whether there is a significant difference between believers in Confucian culture and non-confucian culture,when it comes to the choice of family assets.The empirical results show that residents who prefer Confucian culture,are more inclined to participate in risky securities investment.