Variables | Urban Resident | Rural Resident | Full Sample | ||||
| Stock | Risky assets | Stock | Risky assets | Stock | Risky assets | |
Credit | 0.301** | 0.354*** | 0.437* | 0.415*0.340*** (2.32) (3.73) | 0.363*** | ||
| (2.89) | (3.63) | (2.06) | (4.31) | |||
Risk | −0.174*** | −0.149*** | −0.0631 | −0.0556 | −0.104*** | −0.082*** | |
| (−5.88) | (−5.46) | (−1.19) | (−1.36) | (−4.34) | (−3.82) | |
House price | 0.190*** | 0.161*** | −0.0286 | 0.0658 | 0.154*** | 0.141*** | |
| (5.25) | (4.85) | (−0.40) | (1.27) | (5.11) | (5.27) | |
Household income | 0.281*** | 0.291*** | 0.240*** | 0.229*** | 0.300*** | 0.310*** | |
| (6.57) | (7.43) | (3.59) | (4.54) | (9.01) | (10.59) | |
Education | 0.0780*** | 0.111*** | 0.202*** | 0.220*** | 0.190*** | 0.220*** | |
| (3.41) | (5.33) | (3.40) | (4.67) | (10.18) | (13.19) | |
House | 0.250 | 0.223 | −0.0731 | −0.0246 | 0.136 | 0.112 | |
| (1.87) | (1.90) | (−0.30) | (−0.12) | (1.19) | (1.13) | |
Insurance | 0.466** | 0.505*** | 0.166 | 0.123 | 0.214* | 0.209* | |
| (3.27) | (3.94) | (0.87) | (0.80) | (2.22) | (2.46) | |
Gender | −0.184** | −0.130* | −0.0624 | −0.0849 | −0.232*** | −0.186*** | |
| (−2.59) | (−2.02) | (−0.44) | (−0.80) | (−3.89) | (−3.53) | |
Health | 0.0598 | 0.0814* | −0.208** | −0.109* | 0.0174 | 0.0366 | |
| (1.44) | (2.16) | (−2.81) | (−2.01) | (0.52) | (1.25) | |
_Cons | −5.051*** | −5.176*** | −4.624*** | −4.668*** | −5.657*** | −5.721*** | |
| (−9.91) | (−11.19) | (−5.38) | (−7.00) | (−14.10) | (−16.30) | |
N | 2387 | 2387 | 3273 | 3273 | 5660 | 5660 | |