Research On The Impact Of Women’s Decision-Making Power On Household Commercial Insurance Allocation

With the rapid development of the domestic economy and the continuous improvement of residents’ living standards,the total amount of financial assets within households is also increasing continuously.In recent years,due to the impact of the new crown pneumonia epidemic,protection financial assets have received more and more attention from households,and insurance,as an important tool for diversifying and transferring various risks in households,has also become the first choice for protection financial assets in households.In addition,insurance also plays an important role as a social stabilizer,and increasing the holding rate of commercial insurance in families not only can disperse the risks in families,but also help maintain the stability of the whole society.At present,China’s social insurance has basically reached the degree of full coverage,but for commercial insurance,most of the families in China are not well equipped with commercial insurance,and only a few families will take out a small part of their savings to purchase commercial insurance,so commercial insurance still has a large development space.With the rise of women’s consciousness in China in recent years,women’s participation rate in social work has increased,and women’s social and family status has also been significantly enhanced,the willingness of female members in the family to purchase insurance is bound to become an important factor influencing the allocation of family commercial insurance.In the context of the gradual increase of women’s voice in Chinese society,among the many factors that affect the allocation of family commercial insurance,the question of whether the level of women’s voice in the family affects the allocation of family commercial insurance has also entered the public eye.Therefore,this paper investigates whether the increase of women’s voice helps to improve the allocation of family commercial insurance and provides new ideas to promote the development of the whole insurance industry.This paper uses data from the 2019 China Household Finance Survey(CHFS),and takes women in the database and their households as the subjects of the study,using the ratio of women’s personal income to total household income as the main factor to measure women’s discourse.This paper first investigates the relationship between women’s discourse and their holdings of various types of commercial insurance in their households using the Probit model,and then uses the Tobit model to investigate the effect of women’s discourse on the holdings of various types of commercial insurance in their households,and the regression results pass the robustness test.Heterogeneity was further examined between urban and rural areas,between different marital status of women,and whether women were heads of households.The paper then examines the moderating effects of total household consumption,risk attitude of the respondent women on the influence of female voice in the household on household commercial insurance allocation.The relevant empirical results show that:(1)the current level of female voice in Chinese households is generally low;(2)the current household commercial insurance allocation in China is also at a low level;(3)the increase of female voice has a significant promoting effect on the allocation of commercial insurance in households;(4)the influence of female voice on household commercial insurance allocation shows significant heterogeneity in different situations;(5)household consumption(4)the influence of female discourse on household commercial insurance allocation shows significant heterogeneity in different situations;(5)household consumption,risk attitudes of female members play a moderating role in the process of female discourse in promoting household commercial insurance allocation.Through the above-mentioned empirical study,this paper provides new directions to improve the level of household commercial insurance allocation and promote the development of the insurance industry,and proposes feasible suggestions for improving the level of household commercial insurance allocation from both government agencies and insurance institutions.