From: Health shock, medical insurance and financial asset allocation: evidence from CHFS in China
 | Proportion of Risky Financial Asset | ||||
---|---|---|---|---|---|
 | Bottom 20% | 20-40% | 40-60% | 60-80% | Top 20% |
 | (1) | (2) | (3) | (4) | (5) |
Commercial medical insurance | 0.016 | 0.039** | 0.030** | 0.038*** | 0.066*** |
 | (0.011) | (0.017) | (0.012) | (0.014) | (0.015) |
Social medical insurance | 0.003 | -0.003 | 0.011* | -0.018 | 0.044*** |
 | (0.002) | (0.007) | (0.005) | (0.011) | (0.015) |
Health shock | -0.001 | 0.000 | -0.005 | 0.019** | -0.001 |
 | (0.002) | (0.004) | (0.004) | (0.008) | (0.013) |
Health shock on family member | 0.002 | -0.001 | 0.002 | -0.000 | -0.022* |
 | (0.002) | (0.003) | (0.004) | (0.006) | (0.012) |
Individual controls | Yes | Yes | Yes | Yes | Yes |
Household controls | Yes | Yes | Yes | Yes | Yes |
Province FE | Yes | Yes | Yes | Yes | Yes |
Observations | 7341 | 3891 | 5221 | 5298 | 4825 |
R-squared | 0.043 | 0.055 | 0.080 | 0.084 | 0.146 |