Political Background and Household Financial Asset Allocation in China

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dc.citation.issue4
dc.citation.volume57
dc.contributor.authorGe Y
dc.contributor.authorChen H
dc.contributor.authorZou L
dc.contributor.authorZhou Z
dc.date.available2021-03-16
dc.date.issued2021-01-18
dc.description.abstractPolitical background is an important factor in determining the household economic behavior. Using 2014–2018 households panel data from the China Family Panel Studies (CFPS), we investigate the effects of political background on China’s household asset allocation behavior. We find that political background has a significant positive impact on the financial market participation. Mediation analysis indicates that political background leads to higher household wealth, better social capital, and fewer credit constraints, thus promotes households investments. Further analysis shows that the marginal impact of political background on household investment behavior is more significant in Eastern and urban areas. Our results contribute to the existing literature on the relationship between the political background and the household investment behavior, also enhancing the understanding of the household portfolio heterogeneity.
dc.description.publication-statusPublished
dc.format.extent1232 - 1246
dc.identifierhttp://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000608515700001&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=c5bb3b2499afac691c2e3c1a83ef6fef
dc.identifier.citationEMERGING MARKETS FINANCE AND TRADE, 2021, 57 (4), pp. 1232 - 1246
dc.identifier.doi10.1080/1540496X.2020.1865147
dc.identifier.eissn1558-0938
dc.identifier.elements-id438082
dc.identifier.harvestedMassey_Dark
dc.identifier.issn1540-496X
dc.publisherTaylor & Francis (Routledge)
dc.relation.isPartOfEMERGING MARKETS FINANCE AND TRADE
dc.rights© 2020 The Author(s). Published with license by Taylor & Francis Group, LLC. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http:// creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.
dc.subjectPolitical background
dc.subjectfinancial market participation
dc.subjecthousehold financial
dc.subjectChina
dc.subject.anzsrc1402 Applied Economics
dc.subject.anzsrc1502 Banking, Finance and Investment
dc.titlePolitical Background and Household Financial Asset Allocation in China
dc.typeJournal article
pubs.notesNot known
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/Massey Business School
pubs.organisational-group/Massey University/Massey Business School/School of Economics and Finance
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