The Impact Of Household Financial Asset Allocation On The Sense Of Security

With the rapid development of China’s economy and the continuous improvement of the financial market supervision system,people’s material life has been significantly improved,and the economic level is more and more closely related to the family residents’ sense of security index.People pay more and more attention to the topic of residents’ sense of family security,and the pursuit of sense of security is more and more intense.Although there is still a certain gap between China’s financial development level and the United States and other western developed countries,with the development of China’s financial economy,the majority of family residents participate in the financial market,and the relationship between finance and family residents’ sense of security index is becoming closer and closer.This paper links household financial assets with residents’ subjective sense of security,uses the data of China household financial assets Survey Center(chfs)of Southwest University of Finance and economics in 2017,uses probit model to test and regression,studies the impact of household financial assets on Residents’ subjective sense of security under different circumstances,draws the following main empirical conclusions and discusses the reasons,On this basis,it puts forward relevant suggestions on making better use of financial products to improve residents’ sense of security.First,considering whether to allocate financial assets,the study found that the allocation of financial assets has a significant positive impact on the overall improvement of security;Second,considering the risk heterogeneity of financial assets,the study found that assets with different risk levels have different effects on the sense of security.The allocation of high-risk financial assets has a significant negative impact on Residents’ subjective security,and the allocation of low-risk financial assets has a significant positive impact on Residents’ subjective security.In the specific study of household financial asset allocation,it is found that different financial assets have different effects on the sense of security.Third,Considering the heterogeneity analysis of the sense of security whether to allocate financial assets or not,it is concluded that urban residents allocate financial assets more significantly than rural residents;The degree of risk of financial assets in urban and rural areas,education and income levels also have different effects on the sense of security.Specifically,the sense of security of urban,low education and low-income residents is more inhibitory.The allocation of financial assets by urban families has a significant negative impact on the sense of security under the degree of risk.In this paper,the derived variables are compared with the data in 2015 and tested for robustness.The conclusions are robust.This paper also analyzes the influence of control variables.The influence of social variables such as age and social security on Residents’ subjective sense of security presents the characteristics of "U" structure,that is,the influence of age on Residents’ subjective sense of security first decreases and then increases;It also includes party members,women,marriage,health,family income,financial assets and social security,which have a significant positive impact on Residents’ subjective security,but the years of education,men and liabilities have a negative impact on family residents’ subjective security.