Analysis of Digital Life Effect of Residents’ Trust Based on Multivariate Discrete Choice Model

Zeng, Fan; Cao, Xiao; Zhang, Huanming

doi:10.1155/2022/1801399

Cited by 3 publications

(3 citation statements)

References 21 publications

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“…Based on previous literature (Lugauer et al. , 2017; Zeng et al. , 2022), the selected control variables include variables about individual household head characteristics (age, gender, household registration, marriage, health and work); household demographic characteristics variables (household size, presence of boys among children, number of children under seven years old, age of household head's spouse and education level of household head's spouse); and household economic characteristic variables (pension insurance participation, household property, household loan and car ownership) (see Table 1).…”

Section: Methodsmentioning

confidence: 99%

Unraveling the influence and mechanism of digital inclusive finance on household financial substitution: evidence from China

Sui

2023

APJML

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PurposeThe development of digital inclusive finance (DIF) has increased households' financial investments and consumption. However, few studies have considered whether DIF strengthens the substitution of household financial investment for consumption behavior. To clarify the relationship between DIF, household financial investment and household consumption behavior, the authors combine matched data from the China Family Panel Studies (CFPS) and Peking University Digital Inclusive Finance Index (2011–2018) to explore the impact of DIF on household financial substitution. This study aims to discuss the aforementioned objectives.Design/methodology/approachThis study's empirical analysis applies ordinary least squares (OLS) to answer how DIF affects household financial investment substitution for consumption. This study uses three approaches to examine the robustness of the benchmark regression model. These three approaches are replacing the core explanatory variables, using the lagged Digital Inclusive Finance Index and using the data of additional years. This article also assesses endogeneity by applying the instrumental variable method.FindingsThe results indicate that DIF significantly enhances household financial substitution. This article also assesses endogeneity by applying the instrumental variable method and robustness test methods. The impact mechanism test shows that DIF positively affects household financial substitution, by improving information dissemination efficiency and enhancing financial participation. Further research finds that the impact of DIF on household financial substitution is more pronounced in households with low to moderate savings rates, low to average income households and homes without family members who start their businesses.Research limitations/implicationsThis study analyzed the effect and mediating mechanisms of digital financial inclusion on household financial substitution. Like all studies, the research had some limitations. First, due to differences in culture and infrastructure development, people do not understand and judge economic behaviors, such as household financial investment and consumption, in the same way. It can lead to certain biases in their understanding and study responses. Second, the study is mainly based on data from China. Future studies should be extended to foreign countries for comparative analysis. Third, the development of DIF has not yet completed a full cycle, and many problems have not been fully identified.Practical implicationsThis study provides some practical implication. First, the public sectors should effectively weigh the spending relationship between household financial investment and consumption. Second, the public sector should focus on the policy optimization and consistency of DIF. The public sector should both enhance the breadth of coverage and depth of impact of DIF and focus on long-tail groups to fully reflect the equity and inclusiveness of DIF.Originality/valueThis study responds to the discussion on the relationship between financial investment, saving and consumption games in household expenditures and enhances our understanding of how DIF affects households' complex economic behavior. The most revealing finding is that DIF reinforces the substitution of household financial investment for household consumption. DIF positively affects household financial substitution by improving the efficiency of information dissemination and increasing financial participation, which is a valid extension of the study on the mechanisms of information dissemination and financial participation in financial investment and consumption proposed.

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Section: Methodsmentioning

confidence: 99%

Unraveling the influence and mechanism of digital inclusive finance on household financial substitution: evidence from China

Sui

2023

APJML

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“… 73 The financial and information constraints of individuals with relative deprivation of income can be alleviated, and the income and information resource gap among different individuals can be significantly narrowed. 74 On the other hand, digital finance can provide risk protection for individuals and reduce the concerns of individuals with relative deprivation of income about future uncertain expenditure, 75 which helps improve patients’ ability to take medical risks and provides flexibility to choose the suitablehospital 76 to reduce the perception of inequity caused by relative deprivation of income and mitigate the negative impact of relative deprivation of income on the trust of chronically ill patients. 76 Also, digital finance is established on a credit management system, and the cost of knowing whether other people are trustworthy will be reduced (i.e.…”

Section: Theoretical Analysis and Research Questionsmentioning

confidence: 99%

Can digital finance mitigate trust issues for chronically ill patients because of relative deprivation of income?

Lu,

Li,

Cao

et al. 2023

DIGITAL HEALTH

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Objective The relative deprivation of income among chronically ill patients may create a perception of inequity in their access to quality healthcare, which may lead to a decline in patients’ trust and further increases the burden of chronic diseases. Digital finance could be the antidote. To promote equity in healthcare delivery, this study explores the mitigating effect of digital finance by elucidating the relationship between relative deprivation of income and chronically ill patients’ trust. Methods Using data from the China Family Panel Study, a Poisson regression model was applied to assess the effect of relative deprivation of income on chronically ill patients’ trust. A marginal effect analysis was used to verify the effect and a two-stage least squares method was used to test robustness. Results Chronically ill patients’ trust was at a medium level (5.98 ± 2.05). Relative deprivation of income significantly reduced patients’ trust (β=−0.056, p < 0.1). The digital finance had a positive effect on patients’ trust (β=0.035, p < 0.01) and alleviated the negative effect of relative deprivation of income on patients’ trust (β=0.105, p < 0.01). The instrumental variable estimation results confirmed the robustness of the benchmark regression results. Conclusions The inequity resulting from relative deprivation of income undermines patients’ trust. Digital finance has a long-term effect on alleviating perception of inequity among chronically ill patients. The government should promote the integration of digital finance and smart healthcare to enhance patients’ trust and contribute to equality in healthcare delivery. Limitations include self-reported data and an insufficient correlation between selected indicators and healthcare services.

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“…This article has been retracted by Hindawi following an investigation undertaken by the publisher [1]. This investigation has uncovered evidence of one or more of the following indicators of systematic manipulation of the publication process:…”

mentioning

confidence: 99%

Retracted: Analysis of Digital Life Effect of Residents’ Trust Based on Multivariate Discrete Choice Model

2023

Journal of Function Spaces

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Analysis of Digital Life Effect of Residents’ Trust Based on Multivariate Discrete Choice Model

Cited by 3 publications

References 21 publications

Unraveling the influence and mechanism of digital inclusive finance on household financial substitution: evidence from China

Unraveling the influence and mechanism of digital inclusive finance on household financial substitution: evidence from China

Can digital finance mitigate trust issues for chronically ill patients because of relative deprivation of income?

Retracted: Analysis of Digital Life Effect of Residents’ Trust Based on Multivariate Discrete Choice Model

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