Empirical Analysis Of Influencing Factors Of Household Financial Assets Choice Behavior

Since reform and opening up, both the total amount and structure of the household financial assets have changed a lot, but there still are some problems about household portfolio of financial assets, such as the lack of financial instruments. In this context, the studies of household financial assets have great significance to allocation of social resources, the choice of the family financial portfolio and the macroeconomic policies.In this paper, we use the method of Theoretical-analysis and Empirical-analysis to analyze endogenous factbrs and exogenous factors of household financial assets portfolio. Firstly, we make comprehensive overview of current research about house-hold portfolio of financial assets, use the relevant macro data to estimate the total amount and structure of the household financial assets and elaborate the features of household portfolio of financial assets. Secondly, the factors affect the choice of household financial assets will be divided into internal factors and exogenous factors. Based on the survey and micro data, we use econometric model to analyze the factors. Empirical research shows that:income, age, gender, housing and other internal factors influence household financial assets portfolio. GDP and household savings deposits have a positive correlation with the stock of assets; the increases of CPI cause changes of deposit and stock; there is a co integration relationship between reserve ratio and the household portfolio of financial assets, Finally, according to the conclusions of empirical research, we will point the policy recommendations to improve the household portfolio of financial assets.