The impact of financial literacy on household property income: An empirical analysis based on CHFS data

Fuquan Guan

Finance Research Letters, 2025, vol. 81, issue C

Abstract: Property income has become a key component of household income in China. This study employs factor analysis to measure residents' financial literacy levels and examines its impact on household property income and underlying mechanisms. The findings indicate that financial literacy positively affects household property income. Heterogeneity analysis shows a stronger effect for urban households, high-income households, and those with higher education. Mechanism analysis reveals that financial literacy promotes household property income by enhancing access to financial information and increasing the proportion of income from risky financial assets in total property income.

Keywords: Financial literacy; Household property income; Financial information accessibility; Risk financial assets (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:81:y:2025:i:c:s1544612325008177

DOI: 10.1016/j.frl.2025.107558

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