The Influence of Health Status on Family Risk Asset Allocation
Based on the data of China Household Financial Survey in 2013,2015 and2017,this paper uses Logit model and Tobit model to explore the impact of health statuson household risk asset allocation.The study found that unhealthy households are less likely to hold risky assets and hold a lower proportion of risky assets than healthy families.The test results of the influence mechanism show that the health status of the family willchange the family risk attitude and then affect the family risk asset allocation.The resultsof heterogeneity analysis show that health status has a heterogeneous effect on household risk asset allocation.Compared with debt-free households,debt households are more likely to reduce the holding of risk assets or even withdraw from the risk market because oftheir poor health.The research of this paper has important policy guiding significance forthe construction of"healthy China",the reform of medical and health system and the design of financial products.
health statushousehold risk asset allocationhousehold riskpreference
NETL
NSTL
万方数据
维普
