Author(s)

Tianqi Liang, Zhengzheng Chen, Xiaohui Li

Corresponding Author

Tianqi Liang

ABSTRACT

With the growth of household assets and the development of China's financial market, household financial transactions are increasingly frequent, but at the same time, the single household financial structure has gradually emerged. In order to solve this problem, this paper uses Probit and Tobit model to investigate the impact of social pension insurance on risky financial asset decision-making based on the data of China Household Financial Survey and Research Center in 2017. The results show that the ownership of social pension insurance can significantly increase the willingness of households to participate in risky financial markets and the proportion of risky assets held by households in financial assets, and the effect is different between urban and rural areas. The impact of social pension insurance on rural areas is not prominent. Based on the research results, this paper puts forward the following recommendations: strengthen social endowment insurance protection continually through the pension market.

KEYWORDS

Social pension insurance, Family finance, Asset allocation