{"title":"Household asset structure, pension security, and consumer spending","authors":"Xixi Guo , Kewen Luo , Jun Fang","doi":"10.1016/j.frl.2025.107108","DOIUrl":null,"url":null,"abstract":"<div><div>This study uses data from the 2015, 2017, 2019, and 2021 Comprehensive Survey of Social Conditions in China to examine how household financial asset structure(<em>HAS</em>) affects resident consumption, focusing on pension security's mediating role. Findings indicate the negative correlation between HAS and residents’ consumption. Moreover, pension security acts as a mediator in the linkage between HAS and residents’ consumption, whereas Internet usage moderates this association, with this moderating effect exhibiting urban–rural heterogeneity and marital heterogeneity.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"77 ","pages":"Article 107108"},"PeriodicalIF":6.9000,"publicationDate":"2025-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S154461232500371X","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
This study uses data from the 2015, 2017, 2019, and 2021 Comprehensive Survey of Social Conditions in China to examine how household financial asset structure(HAS) affects resident consumption, focusing on pension security's mediating role. Findings indicate the negative correlation between HAS and residents’ consumption. Moreover, pension security acts as a mediator in the linkage between HAS and residents’ consumption, whereas Internet usage moderates this association, with this moderating effect exhibiting urban–rural heterogeneity and marital heterogeneity.
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