Proceedings of the 2014 International Conference on Management, Education and Social Science

An Investigation of Influencing Factors on Household Portfolio in China----Based on Micro Econometric Analysis of Tobit Model

Authors
Yanda Lang, Yueming Wu
Corresponding Author
Yanda Lang
Available Online January 2014.
DOI
https://doi.org/10.2991/icmess-14.2014.23How to use a DOI?
Keywords
household portfolio, Tobit model, educational investments, financial assets
Abstract
The purpose of this article is to cognize the characteristics of household portfolio, acknowledge the factors that affect the Chinese household investments, and analyze the household investment structure of different populations. Past research in China has appropriately discuss the present situation and variation tendency of household investment, but few research has exploited its influencing factors with systematic econometric models. Using cross-section data from nationwide survey in China, this paper employs Tobit regression for censored data of household investments, and particularly add to the model the human capital measured as educational investments which has been ignored by people. The empirical results show that the Tobit model outperforms OLS and provide a fuller understanding of the factors that affect the Chinese household investments.
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Proceedings
2014 International Conference on Management, Education and Social Science (ICMESS 2014)
Part of series
Advances in Intelligent Systems Research
Publication Date
January 2014
ISBN
978-90786-77-98-7
ISSN
1951-6851
DOI
https://doi.org/10.2991/icmess-14.2014.23How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Yanda Lang
AU  - Yueming Wu
PY  - 2014/01
DA  - 2014/01
TI  - An Investigation of Influencing Factors on Household Portfolio in China----Based on Micro Econometric Analysis of Tobit Model
BT  - 2014 International Conference on Management, Education and Social Science (ICMESS 2014)
PB  - Atlantis Press
SN  - 1951-6851
UR  - https://doi.org/10.2991/icmess-14.2014.23
DO  - https://doi.org/10.2991/icmess-14.2014.23
ID  - Lang2014/01
ER  -