Research On The Influence Of Education Level On The Financial Asset Allocation Of Half Working And Half Farming Families

Since entering the 21st century,China’s household disposable income has increasing rapidly.At the same time,the form of household income structure has changing significantly,the proportion of secondary and tertiary industries has increased,agriculture has gradually become a sideline of rural labor force,and going out to work has become the main choice of young and middle-aged labor force.However,the labor market provided by cities has a natural age stratification characteristic,which requires young labor force,while the middle-aged and elderly labor force returns to rural employment,thus forming a special form of household production of rural residents in China-half work and half farming.At present,about 70% of farmers’ families in China adopt this mode of reproduction.The change of income structure highlights the demand for financial asset allocation of half working and half farming families.The state attaches great importance to the practical role of education in improving national quality,improving the quality of national life and employment,and solving the imbalance in the development of urban and rural residents.This paper draws lessons from the economic theories such as portfolio theory,and takes the practical problems existing in the financial asset allocation of half working and half farming families at the present stage as the starting point,studies the action mechanism of the financial asset allocation of half working and half farming families affected by the level of education,and analyzes the influence of risk attitude,Then puts forward relevant hypotheses and uses empirical models for regression verification,and finally draws conclusions and corresponding suggestions.This paper summarizes the research results from three perspectives: the higher the level of education,the greater the possibility and depth of half working and half farming families to participate in the risk financial market;Risk attitude plays a part of intermediary effect on the path of financial allocation of assets of half working and half farming families affected by the education level.That is,the higher the level of education,the more risk preference.Therefore,the level of education can not only directly affect the allocation of family financial assets,but also indirectly affect the allocation of family financial assets through risk attitude;The influence of education level on household financial asset allocation in different regions is heterogeneous.The suggestions include: Taking the development of education as the long-term goal,strengthening the family’s financial investment awareness and preference,and improving the residents’ allocation proportion of risky financial assets,so as to increase the family’s property income;Promote the modernization of the financial market,improve the availability of financial knowledge and products,and promote the diversification of the allocation of household risk financial assets;Promote the identification ability and allocation awareness of financial assets of residents with different levels of education,especially in primary and secondary schools;The education assistance policy tends to residents in economically underdeveloped and culturally conservative areas to improve their family financial asset allocation ability.