The Impact Of Risk Preference On The Famers’ Household Saving Behavior And Asset Allocation

In recent years,the total savings of Chinese residents has been in a state of rapid growth,has become a common concern of scholars from domestic and abroad,and the factors that affect the search has become a common attention.There are a number of related studies in this field show that family structure,risk attitudes,and the household income play an important role in household savings decisions.At present,there are many researches on several other influencing factors,but there are a few scholars have done empirical research on the influence of risk preference.And in our cognition,the risk attitude has an important impact to the farmers’ family savings behavior and asset allocation behavior.In order to find out whether the risk appetite has a significant impact,this paper chooses the representative group of farmers in Fujian Province as the object of the study on the influencing factors of farmers’ savings behavior and examines the risk appetite of farmers as an important variable whether the risk attitude of farmers has a significant impact on the savings behavior of the peasant households,and on this basis,analyze the other influencing factors of the farmers’ savings behavior.This paper selected 70 sample farmers from Changchun Village,Xiapu County Fujian Province,the national fixed observation point,and obtained the micro family panel data of their income,expenditure and savings in the five years of 2012-2016.In addition,the author also obtained the study This data will provide the conditions for the analysis of the influencing factors of farmers’ savings behavior in this paper,which is the risk preference and education level of these 70 sample farmers.There are two core issues studied in this paper:(1)Does the risk appetite significantly affect the savings behavior of farmers?(2)Does the risk appetite significantly affect the behavior of the farmers’ asset allocation?This part is mainly distributed in the fourth and fifth chapters of this paper.The model set up in this paper is mainly based on the theory of risk preference and the behavior of farmers’ savings and asset allocation.The second chapter expounds the theory and defines the related concepts.Chapter 3 deals with the data sources of this paper and makes a further descriptive statistical analysis of these data.The fourth chapter and the fifth chapter on the basis of the previous chapters on the risk appetite is significantly affected farmers’ savings behavior and asset allocation behavior of the empirical analysis,and on the basis of that research the impact of other factors.The results of this paper show that the risk appetite of farmers has no significant effect on farmers’ saving behavior and asset allocation behavior.By comparing the results of mixed empirical analysis,fixed effect and random effect,it can be found that the total household income,consumption,household net income and fixed assets,household support coefficient and the education level of the affected households are the same Behavior has a more significant impact.The total income and net income,the number of fixed assets and the family support coefficient and the education level of the households have a significant positive effect on the savings rate,and the consumption has a significant negative effect on the savings rate.The household income of the farmer,the household expenditure and consumption of the farmer,the marital status of the farmer have a significant influence on the household financial asset allocation.The higher the household income,the more the choice of the higher risk of financial asset allocation,household expenditure and lower consumption of farmers tend to choose the lower risk of financial asset allocation,when the farmer’s marital status is married,compared to In the single,divorced,widowed farmers,due to the greater responsibility of the family,will choose a lower risk of financial asset allocation.In view of the above conclusions,the policy should be appropriate to improve the income level of farmers,improve social security and social security system and strengthen investment in rural education efforts to improve the level of rural education is relatively poor status quo.