How does Women's Empowerment in Family Decision Affect Family Financial Asset Allocation
From a women's empowerment perspective,this study examines the impact of fam-ily decision-making on the allocation of financial assets using data from the China Family Panel Studies(CFPS)in 2014.The Probit and Tobit models are employed to analyze the data.The findings suggest that financial asset allocation within families tends to be relatively simple in Chi-na.As women's empowerment in family decision-making increases,the likelihood of investing in risky financial assets decreases,resulting in a reduction in regular financial market asset hold-ings.Heterogeneous analysis reveals that female decision-makers with limited financial literacy face more significant financial challenges.Furthermore,the analysis of mechanisms demonstrates that empowering women in family decision-making changes financial exclusion within families,which in turn influences the allocation of family financial assets.Therefore,it is crucial to en-hance the dissemination of financial knowledge and diversify the range of financial products in or-der to enhance women's financial literacy,alleviate financial exclusion within families,and broaden the options for family financial allocation,ultimately reducing financial risks within households.
family financeasset allocationfamily decisionsfemale empowerment
国家科技期刊平台
NSTL
万方数据
维普
