| The progress of economic and the consummation of the financial system put forward the higher request to the family finance.The historical experience and draws from the foreign development experience and the development of Internet economy and the economic situation's vagaries makes the traditional family finances--the savings and bought of the stock already insufficient to deal with the future asset depreciation and the endowment risk Therefore,the modern family financial management came into being,it broke the limitations of traditional financial.The formulation of family financial planning and purchase of financial products and pension planning and self-improvement to enable to maximize the value and utility of family assets,comprehensive family finance is conducive to the family to cope with the changing financial market risks and challenges.At the same time,the Government's active as well as the financial market itself to improve the residents to achieve comprehensive family financial system to provide institutional security and diversification options.In recent years,financial literacy has become the focus of academic research and the focus concerned point of government social,the residents of good financial literacy level is crucial to the stability of financial markets,conducive to economic stability and healthy development.At the same time for the residents themselves,higher financial literacy can help them prevent market risk and provide support for achieving the maximum benefits of their wealth.Studies have shown that financial literacy will have an important impact on household financial behavior.The family of higher financial literacy usually have a clear financial objectives,reasonable financial planning,decentralized portfolio and comprehensive old-age security plan.The family of higher financial literacy will reduce the cost of family finance,reasonable risk aversion,Therefore,they can get higher investment income and more wealth,their quality of life and well-being of life would more than the low level of financial literacy families.Firstly,the paper based on research of domestic and international definition of financial literacy,measurement of financial literacy and the financial impact of on the family finance behavivors,defined connotation of college students,financial literacy and family money management,.Using skills of literature analysis,questionnaire,etc.,the paper cleared the studied question,research studies in accordance with the basis of "hypothesis-building a model-testing a hypothesis".Secondly,according 749 parts of "college students financial literacy and its impact questionnaire on family financial participation" survey questionnaire data reduction analysis,factor analysis,to quantify the level of financial literacy students.And using Probit regression model conduct empirical analysis.The paper regards the four areas of family financial behavior as the starting point to explore the impact of the financial literacy of college students involved in their family financial behavior respectively,as on other factors involved in whether or not their family financial impact behavior significantly;the other selection tool variable findings were tested and endogenous robustness test.The conclusions of this paper include:(1)The overall level of financial literacy of college students is higher,but the individual differences are large,the level of financial literacy of college students has significant positive impact on their family financial participation behavior;(2)Major of college students,source of origin,living expenses of month,highest education level of their parents,whether college students have relatives and friends woking at banks,interest and attention in financial news,and whether their parents have purchased financial products has a significant effect on.their financial literacy;(3)The probability of the purchase of the students is increased by 9.6% with each unit increase of financial literacy.The probability of cash management is increased by 10.3% with each unit increase of financial literacy;(4)The probability of their participation in family financial planning is increased by 7.7% with each unit increase of financial literacy,the probability of participating in family financial products purchase decision is increased by 9.5% with each unit increase of financial literacy,the participation in parental retirement planning and the probability of financial knowledge increase 7.4% with each unit increase of financial literacy.The probability of skill transfer increased by 1.1% with each unit increase of financial literacy.(5)In addition to the core independent financial literacy,different individual characteristics of college students will have different degrees of influence on family financial participation.According to the research conclusion,this article provides suggestions to improve the financial literacy of college students and enhance their participation behavivor of family financial from the government departments,learning and college students themselves three points... |
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