[1]喻家驹,徐 晔*.金融资产配置有效性对我国城市家庭高等教育投资决策的影响[J].江西师范大学学报(自然科学版),2018,(05):544-550.[doi:10.16357/j.cnki.issn1000-5862.2018.05.19]
　YU Jiaju,XU Ye*.The Influence of the Effectiveness of Financial Assets Allocations on the Higher Education Investment Decision of Urban Families in China[J].Journal of Jiangxi Normal University:Natural Science Edition,2018,(05):544-550.[doi:10.16357/j.cnki.issn1000-5862.2018.05.19]
点击复制

金融资产配置有效性对我国城市家庭高等教育投资决策的影响()
分享到：

《江西师范大学学报》（自然科学版）[ISSN:1006-6977/CN:61-1281/TN]

卷:
期数:
2018年05期
页码:
544-550
栏目:
数量经济学
出版日期:
2018-10-20

文章信息/Info

Title:
The Influence of the Effectiveness of Financial Assets Allocations on the Higher Education Investment Decision of Urban Families in China
文章编号:
1000-5862(2018)05-0544-07
作者:
喻家驹; 徐 晔*
江西财经大学统计学院,江西 南昌 330013
Author(s):
YU Jiaju; XU Ye*
School of Statistics,Jiangxi University of Finance and Economic,Nanchang Jiangxi 330013,China
关键词:
效用最大化;  高等教育投资;  夏普比率;  家庭资产组合
Keywords:
maximization of utility;  higher education investment;  Sharp ratio;  portfolio of family assets
分类号:
F 832.48; F 224
DOI:
10.16357/j.cnki.issn1000-5862.2018.05.19
文献标志码:
A
摘要:
从家庭资产配置的角度出发,以夏普比率作为家庭资产配置有效性的度量指标,并提出夏普比率规模概念,认为高等教育投资行为会提升家庭资产组合的夏普比率规模而带来正面效用,但同时也会通过降低家庭当期的财富水平而带来负面效用.对家庭效用的具体形式进行假设后,采用Probit模型对CHIP2013年城镇居民调查数据进行分析,发现个体接受高等教育的意愿,与接受高等教育带来的家庭资产组合夏普比率规模的提升水平正相关,与即期财富水平的下降程度负相关.
Abstract:
From the perspective of family assets allocations,taking Sharp ratio as the measure of the effectiveness of family assets allocations and putting forward the concept of scale of Sharp ratio,it is believed that the action of higher education investment will increase the scale of Sharp ratio of the portfolio of family assets so as to make the positive effects,but also will have negative effects by reducing the level of family wealth in the current period.After assuming the specific form of household utility,Probit model is used to analyze the survey data of urban residents in CHIP 2013.It is found that the willingness of individuals to receive higher education is positively related to the improvement of the scale of sharp ratio of family assets,and negatively related to the decline of spot wealth.

参考文献/References:

[1] Mincer J A.Schooling,experience,and earnings[M].New York:Columbia University Press,1974.
[2] Johnson E N,Chow G C.Rates of returning to schooling in China[J].Pcific Economic Review,2010,2(2):101-113.
[3] 袁诚,张磊.对低收入家庭子女大学收益率的观察[J].经济研究,2009(5):42-51.
[4] 胡颖森,黄瑞,彭锐.低收入家庭子女的高等教育回报分析[J].统计与决策,2011(19):80-83.
[5] 简必希,宁光杰.教育异质性回报的对比研究[J].经济研究,2013(2):83-95.
[6] 祁翔,周金燕.教育回报率的家庭背景差异[J].教育科学,2015,31(3):16-25.
[7] Willis R J,Rosen S.Education and self-selection[J].Journal of Political Economy,1979,87(5):7-36.
[8] Chen Stacey H.Is investing in college education risky?[R].Labor and Demography,Working Paper 0202001,2002.
[9] Gourieroux C,Monfort A.The econometrics of efficient portfolios[J].Journal of Empirical Finance,2005,12(1):1-41.
[10] Harmon C,Hogan V,Walker I.Dispersion in the economic return to schooling[J].Labour Economics,2003,10(2):205-214.
[11] Nielsen H S,Vissing-Jorgensen A.The impact of labor income risk on educational choices:estimates and implied risk aversion[R].NBER Working Paper,2006.
[12] 邹薇,郑浩.贫困家庭的孩子为什么不读书:风险、人力资本代际传递和贫困陷阱[J].经济学动态,2014(6):16-31.
[13] Sharpe W F.Mutual fund performance[J].The Journal of Business,1966,39(1):119-138.
[14] Palacios-Huerta I.An empirical analysis of the risk properties of human capital returns[J].American Economic Review,2003,93(3):948-964.
[15] Christiansen C,Joensen J S,Nielsen H S.The risk-return trade-off in human capital investment[J].Labour Economics,2007,14(6):971-986.
[16] 廖娟.人力资本投资风险与教育选择:基于个体风险态度的研究[J].北京大学教育评论,2010,8(3):150-164.
[17] 吴卫星,丘艳春,张琳琬.中国居民家庭投资组合有效性:基于夏普率的研究[J].世界经济,2015(1):154-172.

备注/Memo

备注/Memo:
收稿日期:2018-03-20
基金项目:国家自然科学基金(71773041),江西省自然科学基金(20181BAA208208)和江西省教育科学“十三五”规划2016年度课题(051)资助项目.
通信作者:徐 晔(1962-),女,江西南昌人,教授,博士生导师,主要从事数量经济学研究.E-mail:xuye_525@163.com
更新日期/Last Update: 2018-10-20