金融素养会影响家庭金融资产组合多样性吗?  

Does Financial Literacy Affect the Diversification of Family Financial Portfolio

作　　者：胡振 王亚平[1] 石宝峰[1] 

机构地区：[1]西北农林科技大学经济管理学院

出　　处：《投资研究》2018年第3期78-91,共14页Review of Investment Studies

基　　金：胡振主持的中国博士后科学基金面上项目"金融素养对农户金融资产选择行为影响研究"(2018M631212);中央高校基本科研业务费专项资金项目"金融素养对家庭金融资产配置的影响研究"(2452017200);国家自然科学基金青年项目"基于风险等级匹配和普惠金融双重约束的农户小额贷款信用评级研究"(71503199)的共同资助

摘　　要：本文基于中国城市居民消费金融调查数据,分析了金融素养对家庭金融资产组合多样性的影响。研究发现,金融素养对家庭金融资产组合多样性有显著的正向影响,且主观金融素养对金融资产组合多样性的影响较客观金融素养大。与风险态度的交互作用是金融素养影响资产组合多样性的重要渠道。进一步研究发现,主观金融素养对金融资产组合多样性水平更高的家庭影响更大,且实证结论具有稳健性。Using the data of China Survey of Consumer Finances, we explore the effects of financial literacy on the diversifica- tion of household financial asset portfolio. The study found that the correlation between financial literacy and household finan- cial asset portfolio diversification is strictly positive. At the same time, the effect of subjective financial literacy to diverse port- folio of financial assets is higher than objective financial literacy. The synergism between financial literacy and risk attitude is an important channel to effect household financial asset portfolio diversification. Further study fund that the effect of subjective financial literacy to diverse portfolio of financial assets higher family is greater than the lower. The empirical conclusion is ro- bust.

关 键 词：金融素养 金融资产组合多样性 倾向分值匹配法 金融教育 

分 类 号：F832.2[经济管理—金融学]