| China is facing the situation of aging,fewer children and getting old before getting rich.With these problems,all parties need to undertake more responsibility to take care of aged.At the same time,China’s old age security which has three pillars meet the problem that the portion of first pillar takes too much responsibilities and the second pillar is congenitally insufficient,so it is particularly important to develop the third pillar.But the third pillar develops slowly and the demand for commercial endowment insurance is insufficient.Previous studies mainly believe that the main reasons for this phenomenon are macro-economy,personal basic characteristics and policies.However,these reasons cannot fully explain the problem.This paper studies the impact of endowment risk perception on commercial endowment insurance purchase behavior from a psychological perspective,and explores the mediating effect of endowment concept between endowment risk perception and endowment commercial insurance purchase behavior.Based on the empirical analysis of the data of China General Social Survey(CGSS)in 2017,this paper uses Probit model to verify the demand of endowment risk perception for commercial endowment insurance,and uses mediation effect model to verify the mediating effect of endowment concept in endowment risk perception and commercial endowment insurance purchase behavior.The empirical results show that:the awareness of pension risk is conducive to promote residents’ purchase of commercial pension insurance,the deeper the awareness of pension risk is,the more likely the residents are to purchase commercial pension insurance,and the degree of awareness of pension risk has different influence on the purchase decision of commercial pension insurance among different groups.When grouped by household registration location,rural and urban residents’ perception of pension risk has a significant impact on the purchase decision of commercial pension insurance.When grouped by income,the influence of middle and high-income groups is higher than that of low-income groups.At the same time,this paper also finds that pension risk cognition plays a partial mediating role before residents’ pension concept and commercial pension insurance purchase,that is,pension risk cognition will affect the purchase behavior of commercial pension insurance by promoting the change of pension concept.In addition,the results also show that income,gender,spouse status,economic zone and the nature of work unit have a significant impact on the purchase of commercial endowment insurance,while age and the number of children have no significant impact on the purchase of commercial endowment insurance,but its symbol still has practical significance.Finally,combined with the results of empirical research,three suggestions are put forward to strengthen the risk publicity,promote the change of pension concept and strengthen the construction of elderly activity center facilities. |
