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

DOI

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.

Copyright

© 2014, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

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  - Proceedings of the 2014 International Conference on Management, Education and Social Science
PB  - Atlantis Press
SP  - 83
EP  - 86
SN  - 1951-6851
UR  - https://doi.org/10.2991/icmess-14.2014.23
DO  - 10.2991/icmess-14.2014.23
ID  - Lang2014/01
ER  -