The Research Of The Influence Of Social Network On The Decision On Household Asset And Liability

With the continuous development of China's economy and financial markets,especially the income of the family disposable income continues to improve,the choice of investment for family financial assets are increasing,the allocation of household assets has become rich and colorful.Residents are no longer a single asset savings,but began to participate in stocks,bonds,funds and other financial instruments investment.Coupled with the development of China's current credit consumption,as well as the growing demand for funds and convenient access to credit,debt has increasingly become the result of independent choice.In the past,the influence factors of family assets and liabilities are analyzed from different angles.This paper attempts to study the impact of social networks on the assets and liabilities of Chinese households from a new perspective.Each family in the society is an organic whole which is connected with each other.Different families will form different social networks because of their own condition and the social environment.The social network as a family of information transmission,exchange of space,the family will inevitably have a series of decisions.The purpose of this paper is to study the relationship between debt and family assets,social network,based on the theoretical analysis,the China family financial investigation(Chinese Household Finance Survey,CHFS)the latest results of 2015 for empirical research,demonstrates the social network of family assets,liabilities and asset liability ratio of the family effect.In this paper,the combination of theoretical analysis and empirical analysis,the following conclusions:(1)Social network has a significant positive impact on family assets,liabilities and family assets liability ratio.In general,as the family's social network continues to expand,the size of the family's assets,liabilities and the level of household debt ratio will increase.Therefore,the social network has become an important factor in the decision making of family assets and liabilities.(2)In the proxy variables of the social network,the communication cost is more important to the family assets,liabilities and the family assets and liabilities ratio than the cash expenditure and cash income.(3)To further refine the sample to urban and rural families,the conclusions are basically the same.The expansion of the social network will help the family to obtain effective social resources,increase the allocation of family assets,especially the family financial assets.(4)Obtaining through regression analysis respectively on China's East and West family results for families in eastern China,the social network of family assets,liabilities and family asset liability ratio has a significant positive effect;for the middle family only,the social network of family assets,liabilities and asset liability ratio have positive family significant influence,but not the eastern family.However,due to the economic environment is different from the eastern and central regions of the western countries,the impact of social networks on household assets,liabilities and household assets liabilities ratio is also different from that of the eastern and central regions of china.(5)By three years of CHFS data analysis of social network on the impact of family asset liability ratio reached three years,the results of regression data is consistent,which can eliminate the individual regression result of 2015.