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该文定位于江苏省某商业银行高端客户家庭,基于家庭微观问卷调查数据,构建计量模型,探究此类群体的家庭金融消费支出的资产效应。研究表明:(1)无论是金融资产还是实物资产都能促进家庭消费支出,并且对于商业银行高端客户,金融资产的资产效应强于实物资产的资产效应;(2)将实物资产细分为房屋资产和其他实物资产,房屋资产对家庭消费支出存在显著的影响,家庭其他实物资产的价值对家庭消费支出影响有限;(3)将金融资产分为风险资产和无风险资产,无风险资产对家庭消费支出的影响高于风险资产的影响。研究贡献在于对商业银行高端客户家庭这一特殊群体的家庭消费的资产效应进行了专门性研究,使用工具变量解决模型中的内生性问题,丰富了高收入家庭消费支出资产效应的研究,对提升高收入家庭消费水平具有指导意义。
This article is located in a high-end customer base of a commercial bank in Jiangsu Province. Based on the micro-questionnaire data of the family, the econometric model is constructed to explore the asset effect of such groups’ household financial expenditure. The research shows that: (1) Household consumption expenditure can be boosted by both financial assets and real assets, and the asset effect of financial assets is stronger than that of physical assets for high-end customers of commercial banks; (2) Subdivision of physical assets into housing Assets and other physical assets, and housing assets have a significant impact on household consumption expenditures. The value of other real assets in the family has a limited impact on household consumption expenditures. (3) The financial assets are classified into risky assets and risk-free assets, The impact of consumer spending is higher than that of risky assets. The contribution of this research is to conduct a special study on the asset effect of household consumption of the special group of high-end customers in commercial banks, to use the tool variables to solve the endogeneity problem in the model, to enrich the research on the asset effect of consumption expenditure in high-income households, The consumption level of high-income families is instructive.