Risk Attitude, Health Status, and Household Financial Investment Behavior

With the vigorous development of the Chinese financial market, family financial transactions have been increasing, and financial products continue to permeate into social production and daily life. The accumulation of family wealth allows more and more families the opportunity and ability to purchase financial products, thereby obtaining risk protection and property income. Family financial investment behavior refers to the financial behavior of investing family assets into various financial products to achieve value preservation and appreciation. This behavior has a significant impact on individual living standards and the overall strength of the country. Since the 1970s, research on family finance has been continuously deepening. Scholars generally believe that Chinese family financial investment behavior has the characteristics of “heterogeneity” and “limitedness”, that is, different families show significant differences in financial asset investment behavior, such as the proportion of financial assets in total wealth, types of held financial assets, and the proportion of risky financial assets. At the same time, the participation of family risk assets in the market is very limited in terms of breadth and depth.