The Impact of Digital Divide on Household Participation in Risky Financial Investments: Evidence From China


The digital divide has now become a worldwide problem and has the potential to lead to greater inequality. This paper empirically analyses the impact of the “digital access divide”, “digital use divide” and “digital inequality divide” on household participation in risky financial investments using micro data from China. The results show that all three digital divides have a positive and significant impact on the probability of households participating in risky financial investments; in addition, the digital divide between urban and rural areas and between households is also significant. Finally, the authors propose strategies for bridging the digital divide based on China’s national context, such as building a national cultivation and evaluation system of digital literacy, reducing the family’s parenting burden, improving the investment environment for residents, developing the power resources of the younger elderly, and promoting intergenerational digital feedbacks.

Author Biographies

Yuan Kefeng, Tomsk State University, Tomsk, Russia; Ningde Normal University, Ningde, China

Yuan Kefeng is a PhD student in economics at Tomsk State University, Russian Federation, Head of the International Business Department of the School of Economics and Management, Ningde Normal University, China, an associate professor engaged in research on supply chain management and household asset allocation.

Zhang Xiaoxia, Tomsk State University, Tomsk, Russia; Ningde Normal University, Ningde, China

Zhang Xiaoxia is a PhD student in economics at Tomsk State University, Russian Federation, the secretary of the Party Committee of the School of Education and Art at the Ningde Normal University, China, an associate researcher engaged in organization innovation management, aging economy, and other research fields.

Olga P. Nedospasova, Tomsk State University, Tomsk, Russia

Olga P. Nedospasova, Doctor of Science (Economics), Professor of the Institute of Economics and Management, Head of the Department of Organizational Behavior and Human Resources Management at Tomsk State University, Russia. Her research areas are human capital theory, investment, innovative development of industry, economics of higher education, elderly well-being.


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How to Cite
Kefeng, Y., Xiaoxia, Z., & Nedospasova, O. (2023). The Impact of Digital Divide on Household Participation in Risky Financial Investments: Evidence From China. Changing Societies & Personalities, 7(1), 113–129. doi:10.15826/csp.2023.7.1.221