摘要
快速发展的互联网金融深刻影响着中国经济发展、社会变迁和人民生活.越来越多的家庭选择参与互联网金融市场,但互联网金融是否真正减少了收入波动,抑或使家庭暴露于风险之中?本文基于2017年中国家庭金融调查数据(CHFS)研究发现,互联网金融参与对提高家庭总收入具有积极影响,但同时也增加了家庭总收入波动,致使收入风险显著增加.但总体上,参与互联网金融市场单位风险的收益上升.进一步研究发现,互联网金融影响了家庭投资性收入、工资性收入和转移性收入.对于有工商业经营的家庭,互联网金融提高了家庭的网络销售概率,促进了家庭创业,显著增加了家庭经营性收入及其波动.本研究可为规范互联网金融市场发展,防范家庭收入风险提供参考.
The rapid development of Internet finance has a profound impact on China’s economic development, social changes and people’s lives. More and more households participate in Internet finance;however, does it really reduce income fluctuations or expose households to more risks? Based on the 2017 China Household Finance Survey(CHFS), the paper finds that Internet finance improves the total income of households. However, it also increases the riskiness of household income. Overall, a unit risk that households take in Internet finance can obtain more excess returns. Further, the paper finds that Internet finance can affect households’ investment income, salary and transfer income. For households with businesses, Internet finance can increase the probability of online sales, promote entrepreneurship, and significantly increase operating income and its risk. Our study can provide reference for regulating the development of Internet financial market and preventing household income risk.
作者
尹志超
仇化
沙叶舟
YIN Zhi-chao;QIU Hua;SHA Ye-zhou(School of Finance,Capital University Economics and Business,Beijing 100070,China)
出处
《管理科学学报》
CSSCI
CSCD
北大核心
2022年第9期66-89,共24页
Journal of Management Sciences in China
基金
国家社会科学基金资助重大项目(21&ZD087)。
