SHS Web Conf.
Volume 163, 20232023 8th International Conference on Social Sciences and Economic Development (ICSSED 2023)
|Number of page(s)||8|
|Section||Economic Trade and Financial Investment Analysis|
|Published online||28 April 2023|
Can the Development of Digital Finance Improve the Financial Asset Allocation Efficiency of Middle Class Households?
1 School of Economics, Wuhan University of Technology, 430070, Wuhan Hubei, China
2 School of Economics, Wuhan University of Technology, 430070, Wuhan Hubei, China
* Corresponding author: firstname.lastname@example.org
With the development of economy, the middle class families have become the backbone of the society, and efficient family financial asset allocation is undoubtedly of great significance for their realization of wealth creation, preservation and transmission. Based on the CHFS database, this paper empirically examines the impact of digital finance development on the efficiency of financial asset allocation of middle class households and the transmission path. It is found that the development of digital finance can significantly improve the financial asset allocation efficiency of middle class families mainly through promoting social interaction, improving financial literacy and increasing risk appetite.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0 (https://creativecommons.org/licenses/by/4.0/).
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