文澜金融论坛（第372期）

摘要：We investigate “spiritual insurance”—a mental strategy for coping with risk, where individuals engage in good deeds, including donations, in exchange for perceived blessings and protection. Using bank transactional data, we show that higher income uncertainty and health shocks lead to increased donations, particularly to religious charities. Moreover, individuals who donate to religious charities tend to reduce insurance expenditures. In a field experiment on millions of potential donors through an online platform, we find that spiritual insurance narratives increase giving, providing direct causal evidence for such a motive. Our findings provide new evidence on how spiritual insurance affects household risk-coping behavior.

主讲人介绍：

张宇，现任北京大学光华管理学院金融学系副教授。成果发表于Review of Financial Studies，Journal of Accounting and Economics，Review of Economics and Statistics, Production and Operations Management等国际期刊，张宇教授致力于家庭消费投资决策和行为金融学等领域的研究。他的研究关注个人和家庭在房地产、消费、金融投资、借贷、保险、就业求职、捐赠等领域的经济金融行为，并注重家庭微观行为与宏观市场的互动。