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Social governance, family happiness, and financial inclusion

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  • Xi, Haomeng
  • Wang, Jizhou

Abstract

China has seen significant economic development and transition in recent years. This study explores the interconnectedness of social governance, family well-being, and financial inclusion in the constantly changing Chinese corporate environment. The research seeks to analyze the complex interaction among many elements and their combined impact on social well-being and economic progress. The research focuses on 3000 top-rated Chinese companies between 2015 and 2022. It collects data from these leading institutions and employs the advanced statistical analysis features of STATA 16.0 for thorough examination. This study examines the impact of social governance measures, such as regulatory frameworks, corporate accountability, and community engagement, on family satisfaction and financial inclusiveness in China. The findings indicate a strong and positive relationship between effective social governance and the improvement of both family wealth and financial accessibility in these companies. Companies that place a high value on ethical behavior and involvement in the community often create a more rewarding atmosphere for their employees and stakeholders, resulting in increased levels of satisfaction and overall happiness. Moreover, these behaviors facilitate the expansion of financial inclusion, enabling a broader range of individuals to access financial services and resources effortlessly. The study indicates that China's politicians and corporate leaders must acknowledge the interconnection between social governance, family well-being, and financial inclusion.

Suggested Citation

  • Xi, Haomeng & Wang, Jizhou, 2024. "Social governance, family happiness, and financial inclusion," Finance Research Letters, Elsevier, vol. 61(C).
    • Handle: RePEc:eee:finlet:v:61:y:2024:i:c:s1544612323013181
    DOI: 10.1016/j.frl.2023.104946
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