Research On The Influence Of Religious Belief On Family Financial Assets Investment Behavior

At present,along with the global wave of financial innovation and the constant changes in financial products,microeconomic entities will actively adjust their asset allocation behavior to adapt to this change.Then,what kind of factors influence,how to influence the investment behavior of family financial assets has gradually become a hot spot for many scholars at home and abroad.Religion is a special social consciousness and a part of culture.Its religious teachings and values play an important guiding role in people's daily life,affecting people's attitudes towards life and wealth,and have a greater impact on people's economic decision-making.Throughout the domestic academic circles,there are many literatures on the investment behaviors of family financial assets.However,the study of religion mostly analyzes social issues such as religious beliefs,and does not pay attention to religion as a culture will have an impact to invest in family financial assets.Therefore,this paper intends to use religious belief as a major research variable to test whether it has an impact on household financial assets investment behavior.This paper inherits the existing research and explores the issue of family financial assets investment behavior from the relatively new perspective of religious belief.We first try to explore the theory from the two roots of social roots and cognitive roots,and then use the current Chinese General Social Survey(CGSS)data from 2015 to empirically examine this topic and introduce the concept of density of religious activities in various provinces.Using the number and density of religious venues as instrumental variable try to solve the endogenous problems of the model.through research we found that: 1.religious beliefs on family financial assets Investment behavior does have a positive impact effect;2.further shows in the 'highest education level' subdivision sample that this effect has a decreasing trend and is significant among respondents with lower education levels;The sub-sample based on “family total annual income”shows that the effect of this effect on the respondents of low-income families is greater and more significant;3.although the different religious beliefs have different effects on the investment behavior of family financial assets,The influence effect of foreign religions is obviously more significant;4.the influence of social capital effect on religious belief based on the dimension of social interaction Chambers financial assets inhibit behavior,however,the value of the cognitive effects of mark-based dimension,shackles effects had no significant effect.The research in this paper supplements and expands the existing literature on the influencing factors of family financial assets investment behavior and the realistic role of religious beliefs in individual economic behavior.Finally,this paper puts forward relevant suggestions: from the perspective of social interaction,we must fully respect the religious freedom of religious believers,provide religious activities for believers,and enhance the social interaction between believers and other groups to protect the capital market;Starting from the perspective of branding and printing,in correctly grasping and considering the factors affecting the investment behavior of family financial assets,we must actively guide the religion to adapt to the socialist society of our country while respecting the propaganda of religious teachings.And fully explore the influence of religious beliefs on the trust level and risk appetite of the believers,and use the power of religious culture to allow investors to actively participate in the capital market.