Abstract：
Does collectivism atmosphere affect residents’ financial assets allocation using China household finance survey data in 2011, this paper find that Family’ collectivism atmosphere promoted residents to participate in stock, fund, foreign exchange, and had significant negative influence on the risk-free assets investment such as cash and bank deposit. Further study shows that collectivism atmosphere has significant positive influence on the total amount of residents’ financial assets, but for each quantile family, presents the obvious heterogeneity. Relative to the poor families, degree of collectivism atmosphere affects residents’ financial investment behavior more deeply for wealthy families.
2015 
