Household Financial Assets Allocation and Behaviour of Art Collection HoldingAuthor(s): Zhang Yu-Xia and Zhou Hong
Financial demands of household show a typical characteristic of hierarchy, which is reflected by financial assets allocation of household. The collection itself has dual-attributes of consumption and investment goods, which is becoming an important choice of household financial assets allocation. Using micro-survey data of China households and analyzing empirically, it is found that the higher the hierarchy of financial assets allocation, the stronger the tendency to hold the art collection for household. It is believed that financial assets allocation should be optimized further and the hierarchy of household financial demands should be enhanced based on the satisfaction of household transaction requirements in order to develop the art collection markets of China and absorb more households to participate in.