School of Finance, Southwestern University of Finance and Economics, Chengdu, 611130, China.
School of Finance, Tianfu College of SWUFE, Mianyang, 621050, China.
PLoS One. 2024 Mar 29;19(3):e0296972. doi: 10.1371/journal.pone.0296972. eCollection 2024.
Neighborhood effects are a common strategy for rural households to deal with irrational situations such as deficient information and ability. Based on the 2019 CHFS survey data, we designed a Probit model to verify whether neighborhood effects exist in the online financial investment of rural households. Our paper constructs a multiple mediation model to explore its mechanism. Otherwise, we execute the heterogeneity analysis by dividing the total sample into groups. Our paper proved that (1) Rural households have significant neighborhood effects on online financial investment. (2) Heterogeneity analysis shows that neighborhood effects are stronger among women, the younger, low-education, and low-income rural households. (3) Through the multiple mediation model, we proved that the neighborhood effects on online financial investment of the peasant household work by the financial knowledge spillover and risk-taking enhancement. Our study conduces to a better understanding of the financial decision-making of rural households, which may provide a practical implication for the popularization of new financial products and the optimal design of policy interventions.
邻里效应是农户应对信息和能力不足等非理性情况的常用策略。基于 2019 年中国家庭金融调查（CHFS）数据，我们设计了 Probit 模型来验证农户的在线金融投资是否存在邻里效应。本文构建了一个多重中介模型来探索其机制。此外，我们还通过将总样本分为不同组别进行了异质性分析。研究结果表明：（1）农户的在线金融投资存在显著的邻里效应。（2）异质性分析表明，女性、年轻、低教育和低收入的农户邻里效应更强。（3）通过多重中介模型，我们证明了农户的在线金融投资邻里效应是通过金融知识溢出和风险承担增强来实现的。本研究有助于更好地理解农户的金融决策，这可能为新金融产品的推广和政策干预的优化设计提供实践启示。
