TY - JOUR
T1 - Chinese Urban Households’ Security Market Participation
T2 - Does Investment Knowledge and Having a Long-Term Plan Help?
AU - Yao, Rui
AU - Xu, Yilan
N1 - Publisher Copyright:
© 2015, Springer Science+Business Media New York.
PY - 2015/9/22
Y1 - 2015/9/22
N2 - Investment in the securities markets is vital to households’ wealth accumulation and financial security. Using data from the 2008 Survey of Chinese Consumer Finance and Investor Education, we found that self-assessed investment knowledge and having a long-term financial plan were positively associated with Chinese households’ participation in the securities markets. The findings provide insight into the long-term financial security of Chinese households. Given the growing middle class and the rapid development of the financial markets in China, the Chinese financial planning industry is likely to grow substantially in the coming years.
AB - Investment in the securities markets is vital to households’ wealth accumulation and financial security. Using data from the 2008 Survey of Chinese Consumer Finance and Investor Education, we found that self-assessed investment knowledge and having a long-term financial plan were positively associated with Chinese households’ participation in the securities markets. The findings provide insight into the long-term financial security of Chinese households. Given the growing middle class and the rapid development of the financial markets in China, the Chinese financial planning industry is likely to grow substantially in the coming years.
KW - China
KW - Financial capability
KW - Financial planning
KW - Investment decisions
UR - http://www.scopus.com/inward/record.url?scp=84941877329&partnerID=8YFLogxK
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U2 - 10.1007/s10834-015-9455-2
DO - 10.1007/s10834-015-9455-2
M3 - Article
AN - SCOPUS:84941877329
SN - 1058-0476
VL - 36
SP - 328
EP - 339
JO - Lifestyles
JF - Lifestyles
IS - 3
ER -