Household Financial Decision Making Amidst the COVID-19 Pandemic

被引：115

作者：

Yue, Pengpeng ^{[1
]}

Korkmaz, Aslihan Gizem ^{[2
]}

Zhou, Haigang ^{[3
]}

机构：

[1] Beijing Technol & Business Univ, Dept Finance, Beijing, Peoples R China

[2] Dominican Univ Calif, Barowsky Sch Business, San Rafael, CA 94901 USA

[3] Cleveland State Univ, Dept Finance, Cleveland, OH 44115 USA

来源：

EMERGING MARKETS FINANCE AND TRADE | 2020年 / 56卷 / 10期

关键词：

Financial decision making; risk behavior; coronavirus; COVID-19; pandemic; PORTFOLIO CHOICE;

D O I：

10.1080/1540496X.2020.1784717

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the impact of the COVID-19 pandemic on household investment decisions using a novel survey conducted by the Survey and Research Center for China Household Finance. We use linear probability and probit models to analyze the effects of COVID-19 at the household level. Our results show that households who know someone infected with COVID-19 lose confidence in the economy. They are more likely to change their risk behavior and become risk-averse. Further, COVID-19 increases the probability that a household will change its investment portfolio. More specifically, it causes a 9.15% decrease in the total investment amount.

引用

页码：2363 / 2377

页数：15

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