IDEAS home Printed from https://ideas.repec.org/a/eee/ecanpo/v88y2025icp1995-2011.html

Overseas study experience and family financial market participation: Research based on cultural perspective

Author

Listed:
  • Gong, Yuexuan
  • Zhang, Jinghe
  • Ma, Shuang

Abstract

Chinese households show limited participation in the allocation of risky financial assets compared with Western developed countries. Besides financial market factors, is this phenomenon related to the spatial cultural differences between China and the West? Based on the imprinting theory, overseas experience will bear the "imprint" of foreign culture and will remain for a long time after returning home. This study explains whether this phenomenon is related to cultural differences and examines the impact of studying overseas on family financial market participation, finding a positive relationship between them. By comparing the cultural differences between China and the West, overseas study experience is found to improve residents’ risk preferences, time preferences, and financial literacy, thereby encouraging stock market participation. Further analysis of the asset allocation of other families shows that the household savings rate and the proportion of housing assets of families studying abroad are lower, which is consistent with those of western countries. This study has implications for culture’s role in limited participation in financial assets.

Suggested Citation

  • Gong, Yuexuan & Zhang, Jinghe & Ma, Shuang, 2025. "Overseas study experience and family financial market participation: Research based on cultural perspective," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 1995-2011.
    • Handle: RePEc:eee:ecanpo:v:88:y:2025:i:c:p:1995-2011
    DOI: 10.1016/j.eap.2025.11.018
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0313592625004679
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.eap.2025.11.018?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecanpo:v:88:y:2025:i:c:p:1995-2011. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/economic-analysis-and-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.