Household Financial Assets Allocation and Behavior of Art Collection Holding

Abstract

This study focuses on the relationship between household financial assets allocation and behavior of art collection holding, and on the impacts that household financial assets allocation has on behavior of art collection holding. By using propensity score matching (PSM) models, the study examines 12465 China households, and investigates the effects of household financial assets allocation on art collection holding. It is found that the higher the hierarchy of financial assets allocation is, the stronger the tendency to hold the art collection for household is. 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.