Financial market participation, household asset choices, and resident well-being: An empirical analysis of China family panel studies data

Dong Liu, Lina Zhao and Han Yi

Finance Research Letters, 2024, vol. 67, issue PB

Abstract: As a fundamental unit of economic society, family participation is crucial for promoting financial market development and social progress. This study empirically tested the impact of residents’ household financial market participation on their well-being using Chinese micro-household data. The findings show that residents’ participation in financial markets can significantly enhance their well-being. The choice of household assets played a significant positive moderating role in financial market participation on residents’ well-being. Further analysis indicates that marketization and urban residency positively mediated the effects of financial market participation on residents’ well-being.

Keywords: Financial market participation; Household asset choice; Marketization level (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pb:s1544612324009152

DOI: 10.1016/j.frl.2024.105885

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