Research On The Configuration And Influence Factors Of Household Finance

Households,as one of the three main macroeconomic,are playing a very important role not only in consumption but also in investment.The key factor in promoting household consumption or raising family investment is the family's wealth,so the rational allocation of household financial assets can not only increase the wealth of the household,which can actively promote the household's consumption and investment,but also to make their own financial markets prosperity and development,and the prosperity of the financial market will further increase the wealth of the household,so that make both achieve a virtuous circle.The purpose of this paper is to summarize the characteristics of family financial assets by analyzing our family as the object of study,and then analyze the factors that affect the distribution of family financial assets.Through the analysis of possible factors,then we get the corresponding conclusions.Finally,through the conclusions,I give the appropriate policy recommendations.The main contents of this paper are as follows:The first part is the introduction.It mainly introduces the research background and significance,as well as the ideas and methods of the research,and finally the innovation and shortcomings of this paper.The second part is the main body,which includes four chapters.The first chapter is the literature review.To review the domestic and foreign related theories and research,I put forward my research methods and factors according to these theories and research.The second chapter is the characteristics of household financial asset allocation.Based on the CFPS data of 2014(China Family Panel Studies,as CFPS),the characteristics of household financial asset allocation in sample data are specified and compared with household financial assets in other countries abroad.The third chapter is empirical analysis.Based on the CFPS data of 2014,the Probit model and the Tobit model are established,and the factors influencing the family financial allocation are analyzed from the three aspects of the whole,the urban and the rural areas respectively.And then the robustness test is carried out to prove the correctness of the model conclusion.The forth chapter is the conclusion and policy recommendations.The difference in the type of household accounts leads to different factors that affect the allocation of household financial assets.Education and income have a strong positive correlation with the financial participation of the family in the financial market.And put forward three suggestions according to the conclusion: for the national policy formulation,we should optimize the allocation of educational resources in China;for financial institutions,they should strengthen the degree of emphasis on private pension reserves;for the household,it should be reasonable arrangements financial asset allocation,rational value investment,and to take a different asset allocation model according to different age groups,thereby increasing the wealth of the family.