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Social trust and household financial decision-making: An empirical study based on the usage of household financial technology

Year: 2024

Type: article

Abstract: This paper utilizes data from the China Household Finance Survey (CHFS) to examine the impact of social trust on household financial decision-making. The results indicate that social trust significantly enhances the adoption of financial technology by households, and this positive effect is further strengthened by an improved understanding of financial knowledge. Additionally, an analysis of regional heterogeneity reveals varying impacts across different areas. It is recommended that policies focus on enhancing social trust and regional education levels to facilitate the use of financial technology and improve decision-making outcomes.

Source: Finance research letters

DOI: 10.1016/j.frl.2024.106294

Authors: Pengcheng Wang, Xuelin Yang

Institutions: Tarim University, King Mongkut's Institute of Technology Ladkrabang

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $3,350

Funders: King Mongkut's Institute of Technology Ladkrabang, Xinjiang Production and Construction Corps