移动支付对家庭金融资产配置影响研究——基于CHFS的实证分析  

Research on The Impact of Mobile Payment on Household Financial Asset Allocation-An Empirical Analysis Based on the CHFS

作　　者：左晓慧[1] 李旋旋 ZUO Xiao-hui;LI Xuan-xuan(School of Finance,Anhui University of Finance and Economics,Bengbu 233000,China)

机构地区：[1]安徽财经大学金融学院,安徽蚌埠233000

出　　处：《经济问题》2023年第8期42-50,共9页On Economic Problems

摘　　要：随着互联网经济的发展,移动支付已经成为人们日常生活中主要的支付方式,影响着居民的投资行为,进而影响家庭金融资产的配置。而实现家庭财富保值增值的重要路径是家庭金融资产配置效用最大化。基于2019年中国家庭金融调查(CHFS)数据,运用Tobit模型实证分析移动支付对家庭金融资产配置的影响有利于实现家庭金融资产配置价值最大化。研究发现:家庭使用移动支付对风险资产投资有正向促进作用,对无风险资产投资具有负向影响,且工具变量回归和稳健性检验表明该结果稳健有效;机制分析表明移动支付主要通过改善储蓄账户数目及家庭对金融知识关注程度两个渠道影响家庭金融资产配置;异质性分析显示移动支付对身体健康、高等收入水平及高等受教育水平的家庭投资风险资产具有更强的促进作用。因此,应加强金融知识宣传,提高居民金融知识关注度;金融机构应创新金融产品,拓宽金融服务边界;政府应积极开展数字人才的培育和储备工作,持续推进移动支付健康发展;强化金融监管,减少家庭投资风险。With the development of internet economy,mobile payment has become the main payment method in people’s daily life,which affects people’s investment behavior,and thus affects the allocation of family finan-cial assets.The important way to maintain and increase the value of household assets is to maximize the effective-ness of household allocation.Based on the 2019 China Household Finance Survey(CHFS)data,this paper uses Tobit model to empirically analyze the impact of mobile payment on household financial asset allocation.The re-search finds that:Households’use of mobile payment has a positive effect on risky asset investment and a negative effect on risk-free asset investment,and this result is still robust after the use of tool variables regression and ro-bustness test.Mechanism analysis shows that mobile payment mainly affects the allocation of household financial assets by improving the number of savings accounts and the degree of family concern about financial knowledge.The impact of mobile payment on household financial asset allocation is significantly different in health status,dif-ferent income levels and different education levels.Therefore,it is necessary to strengthen the publicity of finan-cial knowledge and raise the concern of residents on financial knowledge;Financial institutions should innovate fi-nancial products and broaden the boundaries of financial services;The government should actively carry out the cultivation and reserve of digital talents,and continue to promote the healthy development of mobile payment;Strengthen financial supervision and reduce the risk of family investment.

关 键 词：移动支付 家庭金融资产 资产配置 

分 类 号：F724.6[经济管理—产业经济] F832