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This study examines the extent to which educational outcomes are transmitted from mothers to daughters in rural China. An analysis of the 2010 China Family Panel Survey reveals that: (i) how far daughters go in their education is strongly associated with their mothers’ education; (ii) the association between mothers’ and daughters’ educational outcomes in rural China was found to be stronger than the corresponding relationships between mothers and sons, fathers and daughters, and fathers and sons, especially at higher levels of education; and (iii) while having more brothers and being born later worsens daughters’ educational outcomes, mothers’ higher education effectively mitigates these negative effects. These findings add to a growing body of literature and empirical evidence that challenges conventional social mobility research paradigms that neglect mothers’ roles. More importantly, the distinction between mother–daughter relationship and that between fathers and daughters and mothers and sons highlights the fact that education is likely transmitted intergenerationally via mechanisms that differ depending on the gendered parent–child pairs.

Purpose: Premarital cohabitation has increased dramatically in China in the last few decades. Past studies have suggested that education is positively associated with premarital cohabitation in China, but how this association changes over time when cohabitation grows from a marginal phenomenon to a popular choice remains unknown. This chapter investigates the changes in the association between education and premarital cohabitation among married individuals in post-reform China.

Design/methodology/approach: Using pooled data from the China Family Panel Studies (2010–2016), logistic regressions are carried out to compare the association between education and premarital cohabitation across three marriage cohorts: 1981–1992, 1993–2001, and 2002–2016.

Findings: Results show that opposite to trends in many Western countries, the positive association between education and premarital cohabitation has not decreased but instead strengthened over time in China. This trend is more consistent for women than men.

Research limitations/implications: The pathways through which education influences cohabitation have not been examined. Moreover, the scope of this research is limited to married individuals and does not include cohabiting experiences that do not lead to marriage. Future research may address this issue when such data become available.

Originality/value: This chapter for the first time examines how the association between education and premarital cohabitation changes over time across different marriage cohorts and whether the diffusion process has happened like what has been observed in Western countries. The findings suggest that China is developing different patterns and trends of demographic changes because of its unique institutional and cultural context.

To combat poverty in China's rural areas, Chinese government has established an unconditional cash transfer program known as the Rural Minimum Living Standard Guarantee (Rural Dibao) Program. Interestingly, despite the importance of education in breaking cycles of poverty, little is known about Rural Dibao's impact on rural children's education. This study investigates Rural Dibao's impact on rural children's learning outcomes by first examining targeting issues within the program, exploring a causal relationship between Rural Dibao and learning outcomes, and then exploring potential mechanisms and heterogeneous effects.

Fixed effects model and propensity score weighting method and data from China Family Panel Studies (CFPS) from the years 2010 and 2014 were used.

The results suggest that the Rural Dibao program suffers from high levels of targeting error, yet is still effective (i.e., program transfers generally still go to people in need). The fixed effects and propensity score weighting models find that program participation raises rural children's standardized test scores in CFPS Chinese-language and math tests. In investigating mechanisms, increased education expenditure seems to connect Rural Dibao participation to increased learning results. The heterogeneity analysis shows that poorer, non-eastern, not left behind, younger or male children benefit from the program (while others have no effect).

These findings suggest that Rural Dibao participation boosts rural children's learning, which could indicate a long-term anti-poverty effect, and that if the program can resolve targeting problems, this effect could be even greater.

In recent years, Asian countries have experienced rising rates of premarital cohabitation, mirroring a similar trend that could be observed in many European countries several decades ago. As international differences in these trends are often attributed to institutional and societal differences, this study explores how China’s and Germany’s welfare and cultural regimes relate to national differences in the timing and prevalence of premarital cohabitation and direct marriage.

On the basis of two post-hoc harmonized surveys (pairfam for Germany; CFPS for China), descriptive analyses and logistic regressions were conducted. A higher standardization of partnership trajectories during the transition to adulthood was observed in China; this being probably related to China’s collectivist and Germany’s individualistic culture. While urban–rural differences prevail in China, and are attributable to China’s hukou system, East and West Germans differ considerably in this regard, a finding which can be traced back to regional differences in historical legacy. Discrepancies in economic modernization explain why the likelihood of experiencing these events differs for individuals in the Eastern and Western Chinese provinces.

Besides these differences, the two national contexts resemble each other in the prevalence of educational hypergamy, as well as in greater rates of cohabitation prior to first marriage, in contrast to direct marriage, seen among wealthier individuals and those with higher education. For the first time, the effects of cultural and institutional differences on the transition to adulthood were compared between a collectivistic vs. individualistic cultural regime and a productivist vs. corporatist conservative welfare regime, enabling researchers to draw conclusions about the link between cultural and welfare regime types and partnership patterns.

The purpose of this paper is to analyze the temporal development of noncognitive abilities of children and the development trajectory of rural and urban children's noncognitive abilities in China.

Lexis diagram is used as the research framework to depict the development trajectory of rural and urban children's noncognitive abilities in China. By employing the nationally representative longitudinal survey data, China Family Panel Studies (2010–2016), the difference of rural and urban children's noncognitive abilities is disentangled into temporal, age and cohort effects.

There is a significant temporal rural–urban difference in children's noncognitive abilities, but the rural–urban gap would expand, narrow or show more complex development trends under different measurements. The results of age and cohort comparison are similar to those of temporal comparison, that is, there are divergent trajectories of rural–urban gap due to the different measurements and different ages and/or cohorts. Specifically, urban children perform better in self-esteem, but rural children always have a higher social responsibility, such a contrast between urban children's weak social responsibility under the advantageous condition and rural children's strong social responsibility in the relatively disadvantageous environment.

Children's noncognitive ability is not innate but is a gradually acquired characteristic through training and cultivation. The rural–urban difference of children's noncognitive abilities implies educational issues concerning educational principles in the urban environment and the educational resources' allocation in the rural society in China. Besides, as the unidimensional measurement of children's noncognitive ability is insufficient, the systematic measurement composed of multidimensional indicators utilizing cohort data or longitudinal data would be needed.

This study explores whether targeted microcredit can effectively alleviate households’ multidimensional relative poverty (MdRP) in rural China in the new era following the poverty elimination campaign and discusses it from a gendered perspective.

This study applies a fixed-effects model, propensity score matching (PSM) and two-stage instrumental variable method to two-period panel data collected from 611 households in rural western China in 2018 and 2021 to explore the effects, mechanisms and heterogenous performance of targeted microcredit on households’ MdRP in the new era.

(i) Targeted microcredit can alleviate MdRP among rural households in the new era, mainly by reducing income and opportunity inequality. (ii) Targeted microcredit can promote women’s empowerment, mainly by enhancing their social participation, thereby helping alleviate households’ MdRP. The effect of the targeted microcredit on MdRP is more significant in medium-educated women households and non-left-behind women households. (iii) The MdRP alleviation effect is stronger in villages with a high degree of digitalization.

Learn from the experience of targeted microcredit. Accurately identify poor groups and integrate loan design into financial health and women empowerment. Particularly, pay attention to less-educated and left-behind women households and strengthen coordination between targeted microcredit and digital village strategies.

This study clarifies the effect of targeted microcredit on women’s empowerment and households’ MdRP alleviation in the new era. It also explores its various effects on households with different female characteristics and regional digitalization levels, providing ideas for optimizing microcredit.

The purpose of this literature review paper is to define consumer finance, describe the scope of consumer finance and discuss its future research directions.

In this paper, consumer finance is used as a synonym of household finance. Consumers refer to individuals and families. After defining the term “consumer finance,” we conducted a critical review of consumer finance as an interdisciplinary research field in terms of money managing, insuring, borrowing and saving/investing. Future research directions are also discussed.

This paper discusses similarities and differences among several terms such as consumer finance, household finance, personal finance, family finance and behavioral finance. The paper also reviewed key studies on consumer financial behavior around four key financial functions, namely, money management, insurance, loan and saving/investment and several nontraditional topics such as fintech and financial capability/literacy. The paper also introduced several datasets of consumer finance commonly used in the United States and China.

This paper clarified several similar terms related to consumer finance and sorted out the diverse literature of consumer finance in multiple disciplines such as economics, finance and consumer science, which provide a foundation for generating more fruitful research in consumer finance in the future.

It is imperative for policymakers, financial institutions, and individual investors to comprehend the factors that impact stock market participation, given the growing significance of the stock market in terms of personal and national wealth. This study endeavours to explore the relationship between cognitive ability and participation in the stock market. We examine the relationship between cognitive abilities and stock market participation, and further explore the mechanism of their influence.

The data from the China Family Panel Studies is utilized, and Tobit and Probit regressions are employed. Additionally, an instrumental variable approach (IV-estimate) is implemented to address the endogeneity issue linked to cognitive ability, and the study’s findings are resilient.

The results reveal a significant positive relationship between cognitive ability and stock market participation. Additionally, the findings suggest that households with higher cognitive ability tend to aggregate more information, expand social networks, and take more risks. A likely explanation is that individuals with higher cognitive ability are more likely to process more external information and evaluate the subjective uncertainty of stock markets based on a well-defined probability distribution. Our findings indicate that the impact of cognitive ability on stock market participation varies among families with differing education levels, genders, marital statuses, and geographical locations.

Therefore, the roles of cognitive abilities in accelerating stock market participation should be fully considered. More information channels and sources that contain financial markets’ information (e.g. mobile applications and financial education) should be provided. Thus, the significance of cognitive ability in increasing stock market participation should be fully considered. Providing more information channels and sources, such as mobile applications and financial education, that contain financial markets’ information would be helpful. Our study contributes to promoting financial literacy and inclusion by highlighting the significant positive impact of cognitive ability, where institutions can tailor their outreach efforts and information channels to better serve individuals with different cognitive ability.

Most poverty research has explored monetary poverty. This chapter presents and analyzes the global multidimensional poverty index (MPI) estimations for China. Using China Family Panel Studies (CFPS), we find China’s global MPI was 0.035 in 2010 and decreased significantly to 0.017 in 2014. The dimensional composition of MPI suggests that nutrition, education, safe drinking water, and cooking fuel contribute most to overall non-monetary poverty in China. Such analysis is also applied to subgroups, including geographic areas (rural/urban, east/central/west, provinces), as well as social characteristics such as gender of the household heads, age, education level, marital status, household size, migration status, ethnicity, and religion. We find the level and composition of poverty differs significantly across certain subgroups. We also find high levels of mismatch between monetary and multidimensional poverty at the household level, which highlights the importance of using both complementary measures to track progress in eradicating poverty.

The purpose of this paper is to analyze the relationship between farm size and agricultural production efficiency from the aspects of output and profit in order to find an optimal farm size that achieves both output and profit efficiency in agricultural production in China.

This study uses the 2012 China Family Panel Studies survey data and employs the stochastic frontier analysis (SFA) models to investigate empirically the relationship between farm size and agricultural production efficiency.

The study finds that there is an inverted-U curve relationship between farm size and output efficiency and a U-shaped curve relationship between farm size and profit efficiency in agricultural production in China. Based on the empirical results, the study estimates that the appropriate farm size is around 10–40 mu and the optimal farm size is around 20–40 mu both in terms of output efficiency and profit efficiency in Chinese agricultural production under the current agricultural technology and land management system.

The findings of this study suggest that appropriate land consolidation will bring more benefits to farmer households and agricultural production efficiency. There are some policy implications. First, governments should give long term and more stable land using rights to farmers through extending the period of land contract and verifying land using rights. Second, governments should encourage transfers of land using rights and promote land consolidation. But the implementation of this policy should consider regional differences and not be used for blindly pursuing increasing land size. Third, land consolidation should be accompanied with the development of specialized agricultural services.

The paper makes two major contributions to the literature. First, the authors use the SFA model to investigate the relationship between land size and agricultural production efficiency. Second, the authors establish two SFA models – the stochastic frontier output analysis model and the stochastic frontier profit analysis model – to estimate the optimal land size to achieve both output and profit efficiency of agricultural production in China.