The Influence Of Social Insurance On The Distribution Of Risk Financial Assets Of Urban Residents

Since the reform and opening up 40 years ago,China’s economy has achieved high quality development and has become one of the most economically promising countries in the world.The impact of asset allocation at the household level on economic development is growing.However,through research,it is found that the financial asset allocation of households in China shows a low participation rate and a single financial asset structure,which limits the grow of family treasure.How to obviously eliminate the low allocation of financial assets of households has become a concern of scholars.This paper takes social insurance held by urban residents as the starting point,and sorts out the literature on family financial asset allocation from three aspects: individual characteristics,family characteristics and social security.Secondly,it relates to the related theories related to social insurance and family financial assets allocation.The mechanism of action is discussed.The status quo of social insurance and family risk financial asset allocation is analyzed from multiple angles.Based on this,the 2015 China Household Financial Survey(CHFS)data is used,and the Probit model and the Tobit model are applied to the risky financial assets of urban households.The situation is empirically analyzed.The research show that: First,holding assurance can obviously encourage the family to participate in the risk financial market,and increase the proportion of risky financial assets in financial assets.Second,in the impact of social insurance on risky financial assets,there are both income and substitution effects,and the substitution effect is greater than the income effect.Third,after dividing the sample into different work properties,it is found that social insurance has the strongest incentive effect on the investment will of individual industrial and commercial households.After distinguishing the regions,it was found that the incentive effect in the eastern region was the most obvious.The above results are still stable after controlling the housing provident fund and commercial insurance.It shows that social insurance has a positive incentive effect on the participation and proportion of family risk financial assets.Based on the above instruction,the thesis proposes that the social safety net should be upgrade and good investment conditions should be created;when the social insurance resources are allocated,it should be inclined to the individual industrial and commercial households and the middle and western families;improve the income growth mechanism and improve the family wealth.