Publication Type
Journal Article
Version
publishedVersion
Publication Date
3-2022
Abstract
This paper studies how high sex ratios (more men than women) affect household portfolio choice. Using data from a nationally representative Chinese household finance survey, we find that a 1 standard deviation increase in the sex ratio would raise the stock market participation rate by 2.9 percentage points or 52.2 percent for families with a son relative to families with a daughter. Our estimates imply that rising sex ratios explain around 10 percent of the significant growth in China’s stock market size in recent decades.
Keywords
Household portfolio choice, High sex ratios
Discipline
Asian Studies | Portfolio and Security Analysis
Research Areas
Finance
Publication
Journal of Human Resources
Volume
57
Issue
2
First Page
465
Last Page
490
ISSN
0022-166X
Identifier
10.3368/jhr.57.2.1217-9245R2
Publisher
University of Wisconsin Press
Citation
LI, Wenchao; SONG, Changcheng; XU, Shu; and YI, Junjian.
High sex ratios and household portfolio choice in China. (2022). Journal of Human Resources. 57, (2), 465-490.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/6563
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.3368/jhr.57.2.1217-9245R2