中国家庭寿险资产和其他资产选择研究——基于生命周期风险和资产同时配置

发布时间：2018-04-04 05:41

  本文选题：寿险资产　切入点：同时配置　出处：《当代经济科学》2013年03期

【摘要】：本文从生命周期风险和资产同时配置的视角研究中国城镇家庭的寿险和储蓄、股票、房产四类资产的选择问题。作者利用中国家庭收入调查数据,结合SUR和Probit、Tobit回归联合估计家庭几类资产的选择方程。主要发现,家庭寿险(股票)资产的持有率、寿险(股票)占家庭金融资产的份额都是随家庭生命周期变动呈"倒U"型。家庭财务脆弱程度显著影响了家庭的寿险持有,但对于其他资产的持有决策没有显著影响。家庭资产配置中,房产挤出了三类金融资产,寿险和股票呈互补关系。随着家庭收入的增长,家庭将更多地选择金融资产,尤其是寿险和股票资产。负债的家庭更多地持有寿险,更少地持有储蓄。中国南、北方家庭的资产持有形式存在较为显著的差异。
[Abstract]:From the perspective of life cycle risk and asset allocation, this paper studies the choice of life insurance and savings, stock and real estate of Chinese urban households.Using the data of Chinese household income survey and combined with SUR and Probita Tobit regression, the author estimates the selection equation of several kinds of household assets.It is found that the holding ratio of household life insurance (stock) assets and the share of life insurance (stock) in household financial assets are all "inverted U" type with the change of household life cycle.Household financial vulnerability significantly affects household life insurance holdings, but has no significant impact on other asset holding decisions.In the allocation of household assets, real estate crowding out three types of financial assets, life insurance and stocks are complementary.As household incomes grow, households will choose more financial assets, especially life insurance and equity assets.Indebted households hold more life insurance and less savings.There are significant differences in the form of asset holding between the north and the south of China.
【作者单位】： 北京大学经济学院;西南财经大学保险学院;
【基金】：国家社会科学基金重点项目(批准号:10AGL010) 国家自然科学基金青年项目(批准号:71203038) 教育部人文社会科学基金青年项目(批准号:12YJCZH011、12YJC790272)
【分类号】：F842.6;F224
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本文编号：1708606