The Impact Of The Internet Financial On Household Wealth Management

As the basic unit of economic, Family has a very important impact on macroeconomic. Under the bank of the rapid development of Internet, understanding the way and thinking of the family wealth management can enable the Government develop a more rational macroeconomic policies which can take the investment and consumption of families into account, and thus government guide economic behavior of households more effectively to reduce financial risk, so that macroeconomic policies can be more stable and effective. In order to study the impact of the Internet Financial on household wealth management, the paper first reviews the theoretical study of the relevant literature of home and abroad, and we know the research results and the latest developments of the Internet Financial and wealth management. Then we study the theory and mechanism of Internet financial impact on household wealth management from several different platforms of Internet finance P2P, all the chips, financial net sales and third-party payment platform.In order to verify the conclusions of the theoretical analysis, we select data to do empirical analysis. Firstly we select the statistics of Chinese household assets since 2000 to analysis the changes of families assets size and the structure families wealth management assets. Then we analyze the development of Internet Financial and its trends in future. Finally, we select the macro data of Internet financial variables and household wealth management, and then we use OLS to make econometric analysis. Considering the premise of OLS analysis is too stringent, such as independent and identically distributed of random disturbance term, and not related to the explanatory variables, etc. In order to test the robustness of the results of quantitative analysis, we use GMM method additionally to make regression analysis, and the conclusions of GMM are basically the same with the OLS estimate.By regression analysis, we find that the impact of Internet financial on Chinese household asset management is more significant, in which traditional bank deposits reduce most significantly, while the investment on bonds and fund develop significantly as the Internet Financial develop in recent years. Because Chinese households generally are risk averse, so even the rapid development of Internet financial, the residents are still relatively cautious on the stock investment, and stock investment ratio does not increase with the development of Internet Financial...