Risk sharing, siblings, and household equity investment: evidence from urban China
Abstract In a society where financial market and insurance market are under-developed, social networks play an important role in risk sharing. Using data from the 2011 China Household Finance Survey, this paper examines the effect of siblings, which form strong ties in a social network, on household...
Ausführliche Beschreibung
Gespeichert in:
| Autor*in: |
Wu, Xiaoyu [verfasserIn] |
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| Format: |
Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2019 |
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| Schlagwörter: |
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| Anmerkung: |
© Springer-Verlag GmbH Germany, part of Springer Nature 2019 |
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| Übergeordnetes Werk: |
Enthalten in: Journal of population economics - Springer Berlin Heidelberg, 1988, 33(2019), 2 vom: 29. Juni, Seite 461-482 |
|---|---|
| Übergeordnetes Werk: |
volume:33 ; year:2019 ; number:2 ; day:29 ; month:06 ; pages:461-482 |
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| DOI / URN: |
10.1007/s00148-019-00740-x |
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OLC207179995X |
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| 520 | |a Abstract In a society where financial market and insurance market are under-developed, social networks play an important role in risk sharing. Using data from the 2011 China Household Finance Survey, this paper examines the effect of siblings, which form strong ties in a social network, on household equity investment. We find that having one more sibling increases the probability of participation in stock market by 15–17% points and increases the fraction of total assets in stock investment by 2–3% points. We also find that sisters have a larger effect on equity investment than brothers. With the examination of the effects of siblings on social interaction, risk tolerance, saving, and borrowing behaviors, we argue that the main channel through which siblings affect household investment is risk sharing. | ||
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10.1007/s00148-019-00740-x doi (DE-627)OLC207179995X (DE-He213)s00148-019-00740-x-p DE-627 ger DE-627 rakwb eng 300 330 VZ 74.00 bkl Wu, Xiaoyu verfasserin (orcid)0000-0003-3803-7207 aut Risk sharing, siblings, and household equity investment: evidence from urban China 2019 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer-Verlag GmbH Germany, part of Springer Nature 2019 Abstract In a society where financial market and insurance market are under-developed, social networks play an important role in risk sharing. Using data from the 2011 China Household Finance Survey, this paper examines the effect of siblings, which form strong ties in a social network, on household equity investment. We find that having one more sibling increases the probability of participation in stock market by 15–17% points and increases the fraction of total assets in stock investment by 2–3% points. We also find that sisters have a larger effect on equity investment than brothers. With the examination of the effects of siblings on social interaction, risk tolerance, saving, and borrowing behaviors, we argue that the main channel through which siblings affect household investment is risk sharing. Household equity investment Risk sharing One-child policy Social network China Zhao, Jianmei aut Enthalten in Journal of population economics Springer Berlin Heidelberg, 1988 33(2019), 2 vom: 29. Juni, Seite 461-482 (DE-627)13041378X (DE-600)625005-1 (DE-576)018245390 0933-1433 nnns volume:33 year:2019 number:2 day:29 month:06 pages:461-482 https://doi.org/10.1007/s00148-019-00740-x lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-GGO SSG-OLC-WIW SSG-OPC-GGO GBV_ILN_11 GBV_ILN_26 GBV_ILN_2018 GBV_ILN_4277 74.00 VZ AR 33 2019 2 29 06 461-482 |
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10.1007/s00148-019-00740-x doi (DE-627)OLC207179995X (DE-He213)s00148-019-00740-x-p DE-627 ger DE-627 rakwb eng 300 330 VZ 74.00 bkl Wu, Xiaoyu verfasserin (orcid)0000-0003-3803-7207 aut Risk sharing, siblings, and household equity investment: evidence from urban China 2019 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer-Verlag GmbH Germany, part of Springer Nature 2019 Abstract In a society where financial market and insurance market are under-developed, social networks play an important role in risk sharing. Using data from the 2011 China Household Finance Survey, this paper examines the effect of siblings, which form strong ties in a social network, on household equity investment. We find that having one more sibling increases the probability of participation in stock market by 15–17% points and increases the fraction of total assets in stock investment by 2–3% points. We also find that sisters have a larger effect on equity investment than brothers. With the examination of the effects of siblings on social interaction, risk tolerance, saving, and borrowing behaviors, we argue that the main channel through which siblings affect household investment is risk sharing. Household equity investment Risk sharing One-child policy Social network China Zhao, Jianmei aut Enthalten in Journal of population economics Springer Berlin Heidelberg, 1988 33(2019), 2 vom: 29. Juni, Seite 461-482 (DE-627)13041378X (DE-600)625005-1 (DE-576)018245390 0933-1433 nnns volume:33 year:2019 number:2 day:29 month:06 pages:461-482 https://doi.org/10.1007/s00148-019-00740-x lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-GGO SSG-OLC-WIW SSG-OPC-GGO GBV_ILN_11 GBV_ILN_26 GBV_ILN_2018 GBV_ILN_4277 74.00 VZ AR 33 2019 2 29 06 461-482 |
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Abstract In a society where financial market and insurance market are under-developed, social networks play an important role in risk sharing. Using data from the 2011 China Household Finance Survey, this paper examines the effect of siblings, which form strong ties in a social network, on household equity investment. We find that having one more sibling increases the probability of participation in stock market by 15–17% points and increases the fraction of total assets in stock investment by 2–3% points. We also find that sisters have a larger effect on equity investment than brothers. With the examination of the effects of siblings on social interaction, risk tolerance, saving, and borrowing behaviors, we argue that the main channel through which siblings affect household investment is risk sharing. © Springer-Verlag GmbH Germany, part of Springer Nature 2019 |
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Abstract In a society where financial market and insurance market are under-developed, social networks play an important role in risk sharing. Using data from the 2011 China Household Finance Survey, this paper examines the effect of siblings, which form strong ties in a social network, on household equity investment. We find that having one more sibling increases the probability of participation in stock market by 15–17% points and increases the fraction of total assets in stock investment by 2–3% points. We also find that sisters have a larger effect on equity investment than brothers. With the examination of the effects of siblings on social interaction, risk tolerance, saving, and borrowing behaviors, we argue that the main channel through which siblings affect household investment is risk sharing. © Springer-Verlag GmbH Germany, part of Springer Nature 2019 |
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Abstract In a society where financial market and insurance market are under-developed, social networks play an important role in risk sharing. Using data from the 2011 China Household Finance Survey, this paper examines the effect of siblings, which form strong ties in a social network, on household equity investment. We find that having one more sibling increases the probability of participation in stock market by 15–17% points and increases the fraction of total assets in stock investment by 2–3% points. We also find that sisters have a larger effect on equity investment than brothers. With the examination of the effects of siblings on social interaction, risk tolerance, saving, and borrowing behaviors, we argue that the main channel through which siblings affect household investment is risk sharing. © Springer-Verlag GmbH Germany, part of Springer Nature 2019 |
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Risk sharing, siblings, and household equity investment: evidence from urban China |
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https://doi.org/10.1007/s00148-019-00740-x |
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false |
| author2 |
Zhao, Jianmei |
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Zhao, Jianmei |
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13041378X |
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| doi_str |
10.1007/s00148-019-00740-x |
| up_date |
2024-07-04T04:15:41.630Z |
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1803620493965656064 |
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