Factors related to the risk tolerance of households in China and the United States
Implications for the future of financial markets in China
DOI:
https://doi.org/10.61190/fsr.v27i3.3398Keywords:
Survey of Consumer Finances, China Household Finance Survey, Individual investing, Risk toleranceAbstract
We analyzed factors related to the financial risk tolerance of Chinese households, using the 2011 China Household Finance Survey (CHFS). The risk tolerance question was similar to one in the U.S. Survey of Consumer Finances (SCF), and we found that CHFS respondents had slightly higher risk tolerance than SCF respondents, but the percentage of households with stock assets was 9%, compared with 49% in the United States. Our multivariate analyses found many household characteristics in the CHFS had effects on risk tolerance similar to those found in the 2013 SCF. We discuss implications for the future of Chinese investment markets.
Downloads
Downloads
Published
Issue
Section
License
Copyright (c) 2018 Academy of Financial Services
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Author(s) retain the copyright and full publishing rights without restriction.
Author(s) grant the Journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows reusers to distribute, remix, adapt, and build upon the material in any medium or format, for noncommercial purposes only. Reusers must acknowledge the work's authorship and initial publication in this Journal.
Noncommercial means not primarily intended for or directed towards commercial advantage or monetary compensation.
In addition, FSR grants to the UGA Libraries a worldwide, non-exclusive license to all content published by the Journal, including metadata, that is necessary to publish, transmit, and index the Journal and to preserve its content over time.
