Retirement, confucian culture, and household financial asset allocation for older adults

Chenyingzi Liu and Lei Zhang

International Review of Economics & Finance, 2024, vol. 95, issue C

Abstract: This paper explores the impact of retirement on the financial asset allocation of elderly households and innovatively examines the moderating effect of Confucian culture. Using data from the China Household Finance Survey, the empirical results show that older adults reduce risky assets and increase savings after retirement. Confucian cultural concepts reinforce this conservative trend. The study also reveals the heterogeneous effects of household head health, urban-rural differences, and risk attitudes on allocation. This paper provides an essential reference for optimising the allocation of older households' financial assets and addressing the ageing challenges.

Keywords: Retirement; Household financial asset allocation; Confucian culture (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1059056024004908
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:95:y:2024:i:c:s1059056024004908

DOI: 10.1016/j.iref.2024.103498

Access Statistics for this article

International Review of Economics & Finance is currently edited by H. Beladi and C. Chen

More articles in International Review of Economics & Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().