居民风险态度与社会保险参与：来自 CHFS 的经验证据

摘要

利用中国家庭金融调查（ CHFS）的微观调查数据，从居民特征的异质性出发，系统地分析了两个问题：居民风险态度的影响因素、居民风险态度对社会保险参与的影响。从个体基本差异、资产、家庭规模、背景风险、安全因素、金融市场了解程度、幸福因素、流动性约束、地区因素、经济信息因素等方面对居民的风险态度进行了分析，特别是首次考察了安全因素、幸福因素和经济信息因素对居民风险态度的影响。结果表明：有安全防范意识、认为社会治安较好、幸福感较强、关注经济信息以及信息来源渠道较多的居民为风险偏好者的概率较大。风险偏好与养老保险、医疗保险参与的可能性呈负相关，与失业保险参与的可能性呈正相关。而风险厌恶则有着相反的影响。%A bstratc: In the hypothesis of heterogeneity, we use the micro survey data of CHFS to analyze two problems: factors that influence the risk attitude of residents ’, influences of residents’ risk attitude on the choice of social insurance.We analysis factors that influence the risk attitude from ten as-pects, such as the basic difference of the individual, happiness, the safety factors, the degree of financial market understanding, background risk, economic information, liquidity constraints and so on.Especially, we first consider the safety factor, happiness and economic information.The re-sults show that: People who have the safety consciousness, think the social security is better, have more happiness, focus on the economic informa-tion and have more information sources will be more possible of risk preference.Risk preference is negatively correlated with the participation of en-dowment insurance and medical insurance, positively correlated with the participation of unemployment insurance.While the effect ofrisk aversion is opposite.