宗族活动会影响家庭金融投资吗?  

Can Clan Activities Affect Urban and Rural Household Financial Investment?

作　　者：许秀川 商美灵 XU Xiuchuan;SHANG Meiling

机构地区：[1]西南大学经济管理学院农村经济与管理研究中心,重庆400715

出　　处：《深圳社会科学》2021年第3期48-59,共12页Social Sciences in Shenzhen

基　　金：重庆市社会科学规划重点项目(2019ZDGL07);西南大学中央高校基本科研业务费专项资金资助项目(SWU1909203)。

摘　　要：宗族关系是家族内部联系的重要纽带,宗族活动作为一种家族内部活动,会不会对家族内部家庭的行为或活动产生影响?现有文献讨论的视角繁多,却罕有其关于家庭金融投资行为影响的研究。本文基于已有文献和理论分析,得出宗族活动对家庭金融投资影响的假说关系,利用CFPS2014微观数据和Probit、排序Probit模型,以是否拥有宗族祠堂和是否参加祭祖扫墓活动作为家庭宗族活动的度量标准,实证分析了宗族活动对城乡家庭投资决策、投资种类的影响。研究表明:总体上,城乡家庭参与宗族活动对家庭金融投资行为有显著的正向影响,参与宗族活动能够促进家庭金融投资,参与宗族活动不仅提高了城乡家庭参与金融投资的概率,同时对家庭金融投资的种类也产生了显著的影响;其次,在控制变量中,家庭成员所受教育程度,家庭是否拥有自有住房,家庭人均支出也对家庭金融投资活动有显著的影响;最后,宗族活动对城乡家庭金融投资活动均有显著的正向影响,但影响程度在城乡间存在较大差异,城市家庭受影响程度高于农村家庭。文章采用历史上宗族力量的强弱做工具变量的回归分析论证了上述结论的稳健性:宗族活动的确提升了城乡家庭的金融投资行为,并且其对城镇家庭的影响远大于农村家庭,城乡差距较大。Clan relationship is an important link for the internal contact of a family.Will clan activities,as an internal activity of a family,have an impact on the behavior or activities of the family within the family?There are many perspectives in the existing literature,but there are few studies on the influence of household financial investment behavior.Based on the existing literatures and theoretical analysis of the influence of clan activities for the family financial investment hypothesis,and using the CFPS2014 micro data Probit,sorting,Probit model,based on the current literature,the ancestral temple and whether to have families to worship ancestors grave activities as a family clan activities of metrics,the empirical analysis the clan activities on the urban and rural households in investment decision-making,the influence of the types of investment.Research shows that:(1)in general,urban and rural families to participate in the activities of the clan to the family financial investment behavior has a significant positive influence,the clan activities to promote family financial investment,to participate in the activities of the clan not only increased the probability of the urban and rural families in financial investment,the kinds of family financial investment at the same time also has a significant effect;(2)Among the control variables,the education level of family members,whether the family owns a house or not,and the per capita expenditure of the family also have a significant impact on the financial investment activities of the family.It is consistent with the research conclusions of existing articles.(3)The clan activity has a significant positive impact on the financial investment activities of urban and rural families,but the impact degree is different between urban and rural families,and the impact degree of urban families is higher than that of rural families.The paper uses the strength of clan power in history as the instrumental variable regression analysis to demonstrate the stability of the above c

关 键 词：宗族活动 家庭金融 投资城乡差异 

分 类 号：F832.48[经济管理—金融学] F291.3