Natural disasters and risky financial assets investment (RFAI): Evidence from Chinese urban households

ABSTRACT

Based on CFPS2014 and CFPS2018 data, this study investigates the impact of natural disasters on risky financial assets investment (RFAI) of Chinese urban households. The results show that natural disasters can significantly reduce the decision and intensity of household RFAI. Families with permanent jobs, higher education level and property income tend to adopt RFAI. The household population size negatively affects the household RFAI decision.

KEYWORDS:

• Natural disasters
• risky financial assets investment
• Chinese urban households
• CFPS

JEL CLASSIFICATION:

• D14
• Q54

Acknowledgments

The authors thank the anonymous referees for their valuable comments and suggestions, and they thank the editors for their patient work and help.

Disclosure statement

No potential conflict of interest was reported by the author(s).

Notes

¹ Source: Ministry of Emergency Management, PRC (http://www.mem.gov.cn/). Access Date: 2021-9-20.

² Source: China Family Panel Studies (http://www.isss.pku.edu.cn/cfps/cjwt/sywt/index.htm?CSRFT=ISHX-9ZL7-EHAJ-TJ7K-R1R0-O8ZY-YEBM-O9M1). Access Date: 2021-9-20.

Additional information

Funding

The work was supported by the National Office for Philosophy and Social Sciences [17BJL100].