已婚妇女非农就业会影响家庭金融投资决策吗？

Does Married Women’s No-Farm Employment Influence Household Financial Investment Decisions?

摘要: 女性就业是家庭经济来源多样化的重要途径。本文基于中国家庭金融调查(CHFS)数据，考察了已婚妇女非农就业对家庭金融投资选择的影响。研究发现，已婚妇女非农就业会促进家庭风险金融资产的参与，提高家庭风险金融资产的持有比例。其作用机制在于，已婚妇女非农就业可以通过提高家庭收入水平和已婚妇女的金融素养以及扩大社会网络，从而促进家庭风险金融资产配置。进一步研究发现，在城镇家庭和高教育水平家庭，已婚妇女非农就业对家庭风险金融投资的促进作用更大。本文为我国促进已婚妇女非农就业和改善过低风险的金融资产配置比例情况提供了新的思考。

Abstract: Female employment serves as a crucial pathway for diversifying household income sources. Using data from the China Household Finance Survey (CHFS), this paper examines the impact of married women’s non-farm employment on household financial investment decisions. The study finds that married women’s non-farm employment promotes household participation in risky financial assets and increases the share of such assets in the household portfolio. The mechanism operates through enhanced household income, improved financial literacy among married women, and expanded social networks, which collectively facilitate the allocation of risky financial assets. Further analysis reveals that the effect is more pronounced in urban households and among highly educated families. This study provides new insights for policies aimed at promoting married women’s non-farm employment and improving the currently low proportion of risky financial asset allocation in China.