Research On The Impact Of Household Financial Asset Allocation On The Happiness Of Chinese Residents

With the development of social economy,people pay more and more attention to the improvement of life quality,and subjective well-being has become an important indicator to measure the quality of life of residents.At present,my country’s households have low awareness of financial management,leading to the low market participation rate,insufficient diversity,and poor profitability in household financial asset allocation.Therefore,based on the perspective of micro-survey data,this article uses household financial asset allocation as a transmission mechanism to analyze the impact and mechanism of household financial asset allocation on residents’ well-being,and explore household financial factors that affect Chinese residents’ well-being,and try to promote The improvement of residents’ happiness provides aThis article is based on the 2017 China Household Finance Survey(CHFS)survey data.Studies have shown that the allocation of low-risk financial assets by Chinese households will significantly improve the residents’ subjective well-being,and the allocation of high-risk financial assets will significantly reduce the residents’ subjective well-being.Stock and fund investment will significantly reduce residents’ subjective well-being,while bond investment will affect residents The negative effect of well-being is not significant;family insurance will significantly improve residents’ subjective well-being.Compared with urban residents,rural households participating in commercial insurance can significantly improve residents’ well-being;compared with residents in eastern and central regions,western residents’ participation in risky financial allocation can significantly reduce residents’ well-being;eastern residents’ participation in insurance can It has a significant positive impact on residents’ well-being,but it is not significant for families in the central and western regions.This article provides new evidence for understanding the relationship between household financial investment behavior and happiness,and can provide a useful reference for building a harmonious society.