Financial Literacy and Risky Asset Holdings: Evidence from China
33 Pages Posted: 27 Mar 2018
Date Written: December 2017
Abstract
Although financial literacy is important for participating in financial markets, the level of financial literacy of Chinese consumers is low compared with those in developed countries. Using data from the 2014 China Survey of Consumer Finances, we examine the relation between financial literacy and the risky asset holding behaviour of Chinese households, in the context of an emerging financial market with a distinct institutional background. The findings reveal that consumers with higher levels of financial literacy are more likely to hold risky financial assets than those with lower levels. The potential impacts are derived mainly from advanced financial literacy.
Keywords: Chinese households, Financial literacy, Risky asset holdings
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Financial Literacy and Risky Asset Holdings: Evidence from China
This is a Wiley-Blackwell Publishing paper. Wiley-Blackwell Publishing charges $42.00 .
File name: ACFI.pdf
Size: 0K
If you wish to purchase the right to make copies of this paper for distribution to others, please select the quantity.
