The Impact of Internet Use on Households'Holding of Risky Finan-cial Assets:An Empirical Study Based on CFPS Micro Data
The rapid proliferation of the mobile Internet has led to its extensive integration across various sectors of economic and social development,influencing residents'cognitive processes,thinking patterns,and financial behaviors.This study utilizes data from Peking University's China Household Panel Survey(CFPS)to empirically examine the role of Internet usage in household investment in risky financial assets at the micro lev-el.The study identifies risky financial asset holding as the dependent variable and Internet usage as the primary explanatory variable.An Internet usage index is constructed and measured from two dimensions:Internet usage and Internet usage intensity.The impact of Internet usage on household investment in risky financial assets is empirically tested using the Logit model.The findings indicate that,driven by reduced information and transac-tion costs,Internet usage has a significant positive effect on households'propensity to invest in risky financial assets.This conclusion remains valid after a series of robustness tests.
NETL
NSTL
万方数据
