DOI: 10.36347/sjebm.2021.v08i05.001

Pages: 136-144

Housing value and family risk financial asset investment have received more and more attention from academia in recent years. This article uses the empirical findings of the China Household Finance Survey (CHFS) in 2015 to find that housing assets will not only significantly increase household participation in risky financial assets, but also increase household investment in risky financial assets. Furthermore, using the value-added of housing wealth as an instrumental variable to conduct research, it is found that the effect of housing wealth still exists significantly. The above research has important theoretical and practical significance for optimizing the allocation of household assets, improving the quality of people’s lives, and improving the level of capital market in the context of rising housing prices.