House purchasing intention and household participation in the financial market: evidence from Chinese households

This paper uses the micro-cross-sectional data from the Chinese Household Finance Survey in 2017 to systematically investigate the influence of house purchasing intention on household participation in the financial market by adopting probit, tobit and bootstrap methods. First, house purchasing inten...

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Bibliographic Details
Published inJournal of the Asia Pacific economy Vol. 29; no. 2; pp. 721 - 738
Main Authors Li, Zhou, Xu, Xin-Zhe
Format Journal Article
LanguageEnglish
Published London Routledge 02.04.2024
Routledge, Taylor & Francis Group
Subjects
Bootstrap method
Cross-sectional studies
Decision making
family decision making
Financial market
house purchasing intention
household asset allocation
Household finance
Households
Housing market
Participation
Purchase intention
Purchasing
Real estate
Risk
risk preference
Securities markets
Stock exchanges
the participation in the financial market
China
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Summary:This paper uses the micro-cross-sectional data from the Chinese Household Finance Survey in 2017 to systematically investigate the influence of house purchasing intention on household participation in the financial market by adopting probit, tobit and bootstrap methods. First, house purchasing intention had a significant positive impact on household participation in the financial market. Second, family risk preference played a significant mediating effect in the relation stated above. The results of the paper revealed that the impact of housing market prosperity on participation in the financial market was not only through the stock of real estate in the housing market but also through house purchasing intention.
ISSN:1354-7860
1469-9648
DOI:10.1080/13547860.2022.2041313