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The dual driving mechanism of financial literacy and risky financial assets on household entrepreneurial decision-making

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  • Liu, Pingfen
  • Cai, Peifeng
  • Wang, Jing

Abstract

This paper selects survey data from the China Household Finance Survey and Research Center (CHFS) in 2017, 2019, and 2021 as samples to explore the entrepreneurial decision-making mechanism jointly driven by financial literacy and risky financial assets. The study finds that financial literacy has a significant positive impact on individual households' entrepreneurial decisions. Additionally, risky financial assets partially mediate the relationship between financial literacy and individual households' entrepreneurial decisions.

Suggested Citation

  • Liu, Pingfen & Cai, Peifeng & Wang, Jing, 2025. "The dual driving mechanism of financial literacy and risky financial assets on household entrepreneurial decision-making," Finance Research Letters, Elsevier, vol. 72(C).
    • Handle: RePEc:eee:finlet:v:72:y:2025:i:c:s154461232401540x
    DOI: 10.1016/j.frl.2024.106511
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