Consumption Concept and People’s Choice of Financial Assets: A Research Based on CHFS 2011

As an important part of culture, consumption concept can not only influence people’s attitude about worth and wealth, but also their economical behavior and financial decisions. Based on CHFS2011 database, this paper analyzes the relationship between consumption concept and people’s choice of financial assets. The empirical results of this paper show that those who hold forward and positive consumption concept are more willing to hold risk assets than those who hold traditional and conservative consumption concept.