From: Health shock, medical insurance and financial asset allocation: evidence from CHFS in China
 | Holding Risky Financial Asset | Proportion of Risky Financial Asset | ||
---|---|---|---|---|
 | High-income | Low-income | High-income | Low-income |
 | (1) | (2) | (3) | (4) |
Commercial medical insurance | 0.111*** | 0.088*** | 0.069*** | 0.055*** |
 | (0.020) | (0.029) | (0.013) | (0.021) |
Social medical insurance | 0.064*** | 0.008 | 0.034** | 0.002 |
 | (0.025) | (0.005) | (0.015) | (0.004) |
Health shock | -0.004 | -0.007*** | 0.001 | -0.005*** |
 | (0.019) | (0.002) | (0.013) | (0.002) |
Health shock on family member | -0.011 | -0.002 | -0.013 | -0.000 |
 | (0.018) | (0.004) | (0.011) | (0.003) |
Individual controls | Yes | Yes | Yes | Yes |
Household controls | Yes | Yes | Yes | Yes |
Province FE | Yes | Yes | Yes | Yes |
P value for Social MI | 0.0266 | 0.0454 | ||
P value for Commercial MI | 0.5193 | 0.5624 | ||
Observations | 5315 | 5315 | 5315 | 5315 |
R-squared | 0.125 | 0.224 | 0.111 | 0.199 |