Social trust and household financial decision-making: An empirical study based on the usage of household financial technology

Pengcheng Wang and Xuelin Yang

Finance Research Letters, 2024, vol. 70, issue C

Abstract: This paper utilizes data from the China Household Finance Survey (CHFS) to examine the impact of social trust on household financial decision-making. The results indicate that social trust significantly enhances the adoption of financial technology by households, and this positive effect is further strengthened by an improved understanding of financial knowledge. Additionally, an analysis of regional heterogeneity reveals varying impacts across different areas. It is recommended that policies focus on enhancing social trust and regional education levels to facilitate the use of financial technology and improve decision-making outcomes.

Keywords: Social trust; Household financial decision-making; Usage of financial technology; Financial knowledge; China household finance survey (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324013230

DOI: 10.1016/j.frl.2024.106294

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