Tumushuke City Household Financial Asset Allocation Factors Research

Today,with the rapid development of macro economy,the idle funds held by people are gradually increasing.People are not only satisfied with holding cash,bank deposits and other risk-free financial assets,but also allocate more risk assets,such as stocks,funds and bonds.In order to realize the appreciation and preservation of wealth,families will reasonably allocate their funds.Therefore,studying the factors affecting household financial asset allocation can provide reasonable suggestions for residents to allocate financial assets.This article adopts the way of questionnaire survey the configuration of the city,the family financial asset,the questionnaire is divided into four parts,the first part is about the family basic attribute,the second part is the research about family financial asset allocation,the third part is the research about family risk attitude,the fourth part is the research situation of financial knowledge of family know.In the empirical part,two models are used to analyze the influence of various factors on financial asset allocation,and corresponding suggestions and prospects are put forward at last.(1)Probit model is used to investigate whether families enter the stock market.The empirical results show that the marriage status,children’s education level,risk attitude and financial knowledge of the investigated population have an impact on families’ entry into the stock market at a significant level of 1%.While family income and health status of family residents have an impact on families’ entry into the stock market at a significant level of 5%.Except for the six factors mentioned above,other explanatory variables have no significant impact on families’ entry into the stock market.(2)Research on risky assets in the family of the influencing factors,USES Tobit model,you can see from the empirical results,the research of the domestic residents’ age,family income level,the education of children in the home and the head of the household level,risk attitude and financial knowledge these six factors under the 1% significant level of family of risky assets than there is a significant effect,The number of children in the family and the marital status of the family also have an impact on the proportion of risky assets in the family.In addition to the eight influencing factors mentioned above,other explanatory variables have no impact on the proportion of risky assets in the family.(3)After verify each influence factors on the family into the stock market and the risky assets after the influence of the proportion,in order to further understand the family income level,level of education of offspring,risk attitude,and the correlation between the four financial knowledge,to explain the four variables correlation analyses,the following conclusions: With the increase of income level,children’s education level will rise,families’ risk aversion level will decrease and the degree of risk preference will increase,and their understanding of financial knowledge will decrease.With the increase of children’s education level,the risk aversion level of families decreases and the degree of risk preference increases,and families will rely more on financial knowledge for investment.With the improvement of financial knowledge,the degree of risk appetite of households will increase.Through empirical research,this thesis draws the above conclusions,and puts forward suggestions and prospects for tumushuk’s household financial asset allocation from micro,medium and macro perspectives,in order to provide suggestions for other regions and further optimize the household financial asset allocation.