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Platform economy development, financial education, and household risky financial

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  • Zuo, Yuxuan
  • Zhu, Yongli

Abstract

Using CHFS 2017–2019 data, this study systematically investigates the impact of platform economy development on Chinese households’ allocation of risky financial assets. The empirical results show that, irrespective of whether households hold risky financial assets, the scale of such holdings, or their proportion in total financial assets, platform economy development positively influences households’risky asset allocation. Moreover, financial education significantly strengthens this effect. Mechanism analysis indicates that platform economy development promotes household allocation of risky financial assets by enhancing social trust and fostering social interactions. Heterogeneity analysis reveals that, relative to households with lower asset levels, the positive effect of platform economy development is more pronounced for households with higher asset levels. These findings not only enrich the literature on the platform economy and household financial behavior but also offer empirical support for the design of financial education policies and the advancement of digital financial services.

Suggested Citation

  • Zuo, Yuxuan & Zhu, Yongli, 2025. "Platform economy development, financial education, and household risky financial," Finance Research Letters, Elsevier, vol. 86(PF).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pf:s1544612325020677
    DOI: 10.1016/j.frl.2025.108813
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    References listed on IDEAS

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