How Parental Health Affects Household Financial Risk Assets Selection

DOI

10.2991/978-94-6463-198-2_157How to use a DOI?

Keywords

Household Financial Assets; Parental Health; Intergenerational Care

Abstract

With the continuous improvement of economic level, the asset allocation of Chinese households are increasingly skewed towards financial products. At present, most researches about the household asset allocation mainly focus on the influence of residents’ characteristics or financial literacy, while few researches on the internal relationship between household risk, asset structure and allocation choice. Under the background of population aging, it is of great significance to study the influence of parental health status on household risky financial assets. In this paper, Probit model and Tobit model were constructed to analyze the influence of parental health on family asset allocation, and the mediating effect was used to test the influential mechanism of parental health status on family asset allocation with intergenerational care. Finally, the heterogeneity of mediating effect between urban and rural families was analyzed. The research shows that the better parents’ health status, the greater probability and depth of family's participation in the financial risk assets allocation. This impact can be generated through parental care for the offspring in family. However, compared with rural families, the path of influence in urban families is no longer significant.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Renze Liu
AU  - Xiaoli Gan
AU  - Shuhan Yang
PY  - 2023
DA  - 2023/08/10
TI  - How Parental Health Affects Household Financial Risk Assets Selection
BT  - Proceedings of the 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023)
PB  - Atlantis Press
SP  - 1513
EP  - 1526
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-198-2_157
DO  - 10.2991/978-94-6463-198-2_157
ID  - Liu2023
ER  -