移动互联网可及性对家庭风险投资决策的影响——基于CHFS数据的实证研究  

Mobile Internet Accessibility and Household Investment Decision on Risky Assets: Based on China Household Finance Survey

作　　者：李跟强 高新博 何平林 LI Genqiang;GAO Xinbo;HE Pinglin(School of Humanities and Social Sciences,Beihang University,Beijing 100191,China;School of Economics and Management,Beihang University,Beijing 100191,China)

机构地区：[1]北京航空航天大学人文社会科学学院经济系,北京100191 [2]北京航空航天大学经济管理学院,北京100191 [3]北京航空航天大学人文社会科学学院,北京100191

出　　处：《中国软科学》2022年第2期151-162,共12页China Soft Science

基　　金：北京市社会科学基金项目(19YJC030)。

摘　　要：利用2017年中国家庭金融调查(CHFS),基于Probit和Tobit模型实证研究移动互联网可及性与家庭风险金融资产投资之间的关系。研究发现,移动互联网可及性能显著提高家庭进行风险资产投资的概率和程度,使用区县其他家庭的智能手机使用比例作为工具变量,这一关系仍显著成立。移动互联网可及性对城市、东部地区、高资产、户主受教育程度较高的家庭风险投资概率的促进作用更大,对这些家庭风险投资程度的影响大小则基本相反。机制分析表明,移动互联网可及性通过增加金融信息关注度和正规金融服务机制促进家庭风险金融资产的投资行为,但不支持经由增进金融知识进而促进风险资产投资的渠道。Based on the China Household Finance Survey(CHFS) in 2017, this paper uses Probit and Tobit models to empirically study the relationship between mobile internet accessibility and risky investment decision. The findings are as follows: Firstly, mobile internet accessibility significantly improves the probability and degree of household risky financial asset investment, and by using smartphone use proportion of other households in the district or county as the instrumental variable, this relationship is still significantly valid. Secondly, the mobile internet accessibility of households in the city or the east, or of high assets, or of higher education level has a greater positive effect on participation probability in risk asset investment, while this relationship is generally the opposite on participation proportion of risk asset investment for those kinds of households. Thirdly, mechanism analysis shows that the mobile internet accessibility can promote household investment behavior on risky finacial assets via paying more attention to financial information and access more formal financial service, but the financial knowledge channel is not supported statistically.

关 键 词：移动互联网可及性 风险投资决策 家庭金融 中介效应模型 

分 类 号：F832[经济管理—金融学]