An Investigation of Influencing Factors on Household Portfolio in China----Based on Micro Econometric Analysis of Tobit Model
- Yanda Lang, Yueming Wu
- Corresponding Author
- Yanda Lang
Available Online January 2014.
- https://doi.org/10.2991/icmess-14.2014.23How to use a DOI?
- household portfolio, Tobit model, educational investments, financial assets
- 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.
- 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 -