Analyzing Determinants of Household Financial Decision-Making: Household Stock Investment in China

Abstract

This article studies the effects of factors such as income gaps within couples on their division of financial decision-making. Using unique data obtained from the China Household Finance Survey (CHFS), we find that family financial decision-making is dominated by husbands, if they work in financial industries. Moreover, the larger the gap between his income and his wife’s, the more likely the husband is to make decisions on household financial matters. Lastly, our result rejects Hypothesis 2, suggesting that Chinese men tend to hold decision-making power initially, while their wives tend to hold this power as they age.

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