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Table 8 Heterogeneity Analysis among High-income and Low-income Households

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

  1. Notes: Standard errors are presented in parentheses. Individual control and family variables include gender, age, education level, marriage status, urban/rural status, income per family member, family size, and so forth. *** p < 0.01, ** p < 0.05, * p < 0.1