健康投资对家庭资产组合有效性的影响研究  

Research on the Impact of Health Investment on the Effectiveness of Household Portfolio

作　　者：吴锟[1] 刘玛丽 Wu Kun;Liu Mali(School of Economics,Beijing Wuzi University,Beijing 101149,China)

机构地区：[1]北京物资学院经济学院,北京101149

出　　处：《东方论坛（青岛大学学报）》2024年第3期12-30,共19页Eastern Forum（JOURNAL OF QINGDAO UNIVERSITY）

基　　金：国家社会科学基金后期资助项目“中国家庭微观调查数据的实证研究”(20FJYB028);教育部人文社会科学研究青年基金项目“去杠杆背景下家庭过度负债的识别、后果及其影响因素研究”(18YJC790181)的阶段性成果。

摘　　要：健康作为一种典型的背景风险,对家庭的投融资决策有重要影响。基于2019年中国家庭金融调查(CHFS)数据,文章使用普通最小二乘法(OLS)和两阶段最小二乘法(2SLS)研究了健康投资对家庭资产组合有效性的影响。研究发现:健康投资能显著提升家庭资产组合有效性且结果具有较好的稳健性;健康投资会通过影响居民主客观金融素养水平和家庭收入水平从而影响家庭资产组合有效性;健康投资对城镇家庭、东部地区家庭、中高教育水平家庭的资产组合有效性的影响更大。该研究为健康投资如何影响家庭财富提供了重要的理论依据和政策含义。Health can be regarded as a typical background risk that has an important impact on household investment and financing decisions.Based on China Household Finance Survey(CHFS)data in 2019,the impact of health investment on household portfolio effectiveness is investigated by using ordinary least squares(OLS)and two-stage least squares(2SLS).It is found that health investment significantly enhances household portfolio effectiveness,producing robust results,and that health investment can affect the effectiveness of household portfolio by influencing the level of financial literacy and household income.In addition,health investment has a greater impact on the portfolio effectiveness of households in urban areas,households in the eastern region,and households with secondary and higher education.The study provides an important theoretical basis and policy implications for dealing with how health investment affects household wealth.

关 键 词：家庭资产组合 健康投资 夏普比率 

分 类 号：F126[经济管理—世界经济]