数字普惠金融与家庭风险金融资产持有行为  

Digital Financial Inclusion and Household Risk Financial Asset Holding Behavior

作　　者：刘刚 江宇浩 丁杰 Liu Gang;Jiang Yuhao;Ding Jie(School of Finance,Guangdong University of Finance and Economics,Guangzhou 510320,China)

机构地区：[1]广东财经大学金融学院,广东广州510320

出　　处：《金融理论探索》2024年第6期42-53,共12页Exploration of Financial Theory

基　　金：国家社会科学基金项目“科技赋能背景下普惠金融的实体经济效应及优化发展研究”(20BJY249);广东省自然科学基金项目“宏观审慎政策作用于系统性金融风险的理论机制、时变效应及政策优化研究”(2020A1515010863)。

摘　　要：近年来我国数字普惠金融方兴未艾,已渗透到生产生活的方方面面,同时也对家庭金融产生了深刻影响。结合北京大学数字普惠金融指数与中国家庭金融调查与研究中心数据库(CHFS)的数据,通过建立Probit模型与Tobit模型,研究数字普惠金融对家庭风险金融资产持有行为的影响及其机制。研究发现,数字普惠金融发展显著促进了家庭风险金融资产持有行为。机制分析表明,数字普惠金融发展通过提高互联网理财产品满意度、强化居民金融知识储备进而促进家庭风险金融资产持有行为。异质性分析发现,数字普惠金融发展对城市家庭,尤其是一线城市家庭以及高收入水平家庭风险金融资产持有行为有着更强的影响作用。因此,我国政府、金融机构、科技企业和监管机构应共同合作,通过改善数字基础设施及制定差异化发展策略来促进数字普惠金融的包容性发展,有效促进弱势群体的金融参与。同时不能忽略居民数字金融素养的提升,使居民在数字普惠金融的发展过程中最大程度地收益,更加理性地持有风险金融资产。In recent years,China’s digital inclusive finance is on the rise,which has penetrated into all aspects of production and life,and also has a profound impact on family finance.This paper combines the Peking University Inclusive Finance Index and the China Household Finance Survey(CHFS)to study the impact of digital inclusive finance on household risk financial asset holding behavior and its mechanisms by establishing Probit and Tobit models.The study found that the development of digital inclusive finance significantly promotes the holding of household risk financial assets.The mechanism analysis shows that the development of digital inclusive finance promotes family asset allocation by improving the satisfaction of internet financial product and strengthening residents’financial knowledge reserve.Heterogeneity analysis found that the development of digital inclusive finance has a stronger impact on the asset allocation of urban families,especially those in first-tier cities and high-income families.Therefore,the government,financial institutions,technology companies,and regulatory agencies in China should collaborate to promote the inclusive development of digital financial inclusion by improving digital infrastructure and formulating differentiated development strategies,which can effectively enhance financial participation among disadvantaged groups.Additionally,the enhancement of residents’digital financial literacy should not be overlooked,so they can benefit maximally from the development of digital inclusive finance and hold risk financial assets more rationally.

关 键 词：数字普惠金融 家庭金融 风险金融资产持有行为 

分 类 号：F830.59[经济管理—金融学]