School of International Trade and Economics, Shandong University of Finance and Economics, Jinan, China.
School of Economics, Zhejiang University, Hangzhou, China.
PLoS One. 2022 May 5;17(5):e0267055. doi: 10.1371/journal.pone.0267055. eCollection 2022.
Combined with the expected utility theory, this paper constructs a theoretical analysis framework including the development level, financial literacy, and intelligence level of Inclusive Finance, puts forward the hypothesis of the development of digital Inclusive Finance on household asset allocation, and uses the data of China's household finance survey to verify the theory proposed in this paper. The empirical results show that: (1) digital inclusive Finance can significantly improve the allocation proportion of household risk assets, promote the rational participation of households in the risk financial market, and improve the allocation efficiency of household resources. (2) Digital inclusive finance can significantly improve the income level of family financial investment and optimize family investment decision-making.
结合期望效用理论，本文构建了一个包含包容性金融发展水平、金融素养和智力水平的理论分析框架，提出了数字包容性金融发展对家庭资产配置的假说，并利用中国家庭金融调查数据对本文提出的理论进行了验证。实证结果表明：（1）数字包容性金融能够显著提高家庭风险资产配置比例，促进家庭理性参与风险金融市场，提高家庭资源配置效率。（2）数字包容性金融能够显著提高家庭金融投资收益水平，优化家庭投资决策。
