认知能力、社会互动方式与家庭金融资产选择  

Cognitive Ability,Social Interaction and Choice of Family Financial Assets

作　　者：杨虹[1] 张柯 YANG Hong;ZHANG Ke

机构地区：[1]云南民族大学经济学院,昆明650500

出　　处：《金融论坛》2021年第2期70-80,共11页Finance Forum

摘　　要：本文运用CFPS2016数据,研究认知能力与社会互动方式对家庭资产选择的影响。研究发现,认知能力对家庭参与正规金融市场和持有风险资产占比有显著的正向作用,对家庭参与非正规金融市场有显著的抑制作用;线上社会互动对家庭参与正规金融市场和持有风险资产占比的促进作用要显著大于线下社会互动,并对线下社会互动有挤出效应;而线下社会互动对家庭参与非正规金融市场和持有民间借出资产占比的促进作用要显著大于线上社会互动。异质性分析发现,认知能力在青年段对家庭参与金融市场与资产配置的影响要显著大于中年段。This paper uses China Family Panel Studies(CFPS)data of 2016 to analyze the impact of cognitive ability and social interaction on the choice of family financial assets.The results show that:cognitive ability has a significant positive effect on family participation in regular financial market and the proportion of risky assets,and has a significant inhibiting effect on family participation in irregular financial market;online social interaction has a greater promoting effect on family participation in regular financial market and the proportion of risky assets than offline social interaction,and has a crowding out effect on offline social interaction;the promotion effect of offline social interaction on family participation in irregular financial market and the proportion of private lending assets is significantly greater than online social interaction.Heterogeneity test finds that the impact of cognitive ability on family participation in financial market and financial asset allocation in the young people is significantly greater than that in the middle-aged people.

关 键 词：认知能力 社会互动 家庭金融资产选择 金融认知能力 中国家庭追踪调查 

分 类 号：D13[政治法律—政治学]