贵州财经大学学报

贵州财经大学学报 ›› 2022 ›› Issue (05): 43-52.

• 金融经济 • 上一篇    下一篇

金融知识与创业房产租购决策：买房干还是租房干

毛丰付1, 诸梦思1, 徐畅2   

  1. 1. 浙江工商大学 经济学院, 浙江 杭州 310018;
    2. 中国工商银行 杭州分行, 浙江 杭州 310005
  • 收稿日期:2021-09-22 出版日期:2022-09-15 发布日期:2022-10-13
  • 作者简介:毛丰付(1974—),男,辽宁大连人,浙江工商大学经济学院教授,博士生导师,研究方向为城市经济与住房政策;诸梦思(1997—),女,浙江宁波人,浙江工商大学经济学院硕士研究生,研究方向为产业发展与金融投资;徐畅(1995—),男,浙江金华人,经济学硕士,中国工商银行杭州分行,研究方向为资本市场与金融投资。
  • 基金资助:
    国家自然科学基金项目"人力资本偏向型住房政策与城市发展:理论、机制与效应"(71974174);国家社会科学基金项目"城镇化发展理论、特征测度逻辑及中国道路"(20&ZD133);浙江工商大学研究生科研创新基金项目"数字普惠金融与家庭创业——基于正规金融调节视角"(20020020030)。

Financial Literacy and Entrepreneurial House Tenure Choice: Buying or Renting

MAO Feng-fu1, ZHU Meng-si1, XU Chang2   

  1. 1. School of Economics, Zhejiang Gongshang University, Hangzhou, Zhejiang 310018, China;
    2. Hangzhou City Branch, Industrial and Commercial Bank of China, Hangzhou, Zhejiang 310005, China
  • Received:2021-09-22 Online:2022-09-15 Published:2022-10-13

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摘要： 金融知识对资产配置具有重要影响,但金融知识对创业房产配置影响的研究还较为少见,根据创业理论和信贷约束理论得出的家庭创业房产的租购决策存在显著差异。本文以2015年家庭金融调查数据(CHFS)为基础,采用Probit模型研究金融知识对家庭创业房产租购决策的影响。研究结果表明,金融知识显著促进了家庭租房创业,并对拥有多套住房、风险偏好和中西部地区创业家庭的促进作用更大。金融知识可以通过家庭财富、信贷需求和正规信贷可得性三条中介渠道作用于创业房产的租购决策,其中家庭财富持有的中介作用为负向,信贷需求和正规信贷可得性的中介作用为正向。以上结论支持信贷约束理论,即金融知识的提高有助于降低信贷约束并促进家庭选择租房创业,同时对众创空间的发展和家庭创业活力的提高具有重要意义。

关键词: 创业房产, 租购决策, 金融知识, 家庭资产配置, 家庭信贷

Abstract: Financial literacy has an important impact on asset allocation, but few studies have focused on the impact of financial literacy on entrepreneurial real estate allocation. According to the theory of entrepreneurship and credit constraints, there is significant difference in the tenure choice of household entrepreneurial real estate. Based on the 2015 Household Finance Survey (CHFS), this paper uses the Probit model to study the impact of financial knowledge on the rental and purchase options of business real estate. The research results show that financial literacy has significantly promoted households to rent entrepreneurial real estate to start business activities, especially for the group with houses, risk appetites and located in the central region. The mechanism test found that financial knowledge can influence rent-purchase decision of entrepreneurial real estate through three intermediary channels, namely family wealth, credit demand and formal credit availability. The intermediary role of family wealth holding is negative, but the intermediary role of credit demand and formal credit availability is positive. The above conclusions support the credit constraint theory that the improvement of financial knowledge will alleviate credit constraints, promote families' choice of renting entrepreneurial real estate, and it also has an important impact on the development of maker space and the improvement of family entrepreneurial vitality.

Key words: business real estate, tenure choice, financial literacy, household asset allocation, household credit

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