Analysis On The Influence Of Social Interaction On Family Financial Asset Choice Behavior In Shijiazhuang

Against the backdrop of fast-developing financial market and increasing disposable income,Chinese people are more willing to invest in wealth management products.At the same time,the rapid development of Internet amplifies online social interaction's implication on families'selection of financial assets.Under the guidance of Beijing-Tianjin-Hebei coordinated development strategy,the financial reform in Hebei Province has achieved remarkable results.As the capital of Hebei Province,Shijiazhuang's financial development situation deserves attention.Therefore,from a micro-perspective,the paper chooses families in Shijiazhuang City as the research subjects,aiming to explore the influence of online and offline social interaction on families'participation in financial market and the degree of the participation.The paper conducts the method of questionnaire in order to acquire the original data about family characteristics,personal characteristics,social interaction and financial market participation and employs Spss and Stata software for data processing and analysis.The principal component factor method is applied to construct offline social interaction variables and household communication cost and people's entertainment duration are taken as online social interaction variables.Probit and Tobit model are used for empirical analysis and further analysis on different regions and financial products will also be carried out.The conclusion is that both online and offline social interaction can positively promote families to participate in financial market.In rural areas,social interaction doesn't exert clear impact and the influencing factor is mainly family characteristics;however,in urban areas,social interaction shows significant influence and the influencing factors of control variables are mainly demonstrated by attitude towards risks and financial knowledge.The possession and participation degree of stocks,funds and financial wealth management products is mainly affected by offline social interaction,while the possession and participation degree of Internet wealth management products is mainly affected by online social interaction.Moreover,the paper also finds out that commercial insurance has prominent implication in all the analyses.Based on the analysis results,this paper puts forward relevant policy suggestions from three angles:government level,financial institution level and family level,hoping to help the government's financial knowledge popularization policy,let financial institutions launch financial products that meet the characteristics of Shijiazhuang residents,and help families to participate in the financial market.