摘要
基于风险偏好和生育意愿双重视角,综合考察儒家文化对家庭资产配置行为的影响。研究发现,受儒家文化影响的家庭,银行储蓄与房产投资比例显著更高,高风险的股票类金融资产更低。机制分析表明,儒家文化通过降低家庭风险偏好程度和增强生育意愿(特别是男孩)间接影响家庭资产配置方式。外来文化冲击、高学历和高收入水平会侵蚀儒家风险规避思想和生育理念,进而削弱儒家文化影响力,但中老年人资产配置方式的儒家色彩更浓厚。儒家文化与外来宗教相反的作用效果,表明文化是导致中西方家庭资产配置方式迥异的更深层次原因。
This paper investigated the influence of Confucian culture on family asset allocation behavior from the dual perspective of risk preference and fertility intention. The results showed that, the families, affected by Confucian culture, had more savings and real estate, while high-risk stock financial assets were fewer. Mechanism analysis suggested that, Confucian culture has directly affected the ways of family assets allocation through reducing the degree of family risk preference and enhancing the willingness to bear(especially boys). We also found that foreign culture shocks, higher level of education and more income could erode the risk aversion thought and birth concept of Confucianism and thus weaken the influence of Confucian culture, but the asset allocation of middle and old people presented stronger characteristics of Confucianism. In addition, the opposite effect of Confucianism and foreign religion indicated that cultural factors were the deep reasons for the different ways of allocating family assets in China and the West.
作者
潘文东
李万利
汤旭东
PAN Wen-dong;LI Wan-li;TANG Xu-dong(School of Economics,Xiamen University,Xiamen 361005;College of Finance and Statistics,Hunan University,Changsha 410006;School of Business Administration,South China University of Technology,Guangzhou 510641,China)
出处
《山西财经大学学报》
CSSCI
北大核心
2022年第12期1-17,共17页
Journal of Shanxi University of Finance and Economics
基金
国家自然科学基金项目(72002068)
教育部哲学社会科学研究后期资助项目(21JHQ064)
广州市社科规划课题共建项目(2021GZGJ43)。
关键词
儒家文化
家庭资产配置
风险偏好
生育意愿
外来文化
Confucian culture
family asset allocation
risk preference
fertility intention
foreign culture
