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Financial literacy, old-age dependency ratio and household fraud risk

Author

Listed:
  • He, Wei
  • Ling, Wenhao
  • Chen, Ziyi

Abstract

This study explores the intricate connection between individuals’ financial acumen and their households’ vulnerability to fraud. Using China Household Finance Survey data from 2017, 2019, and 2021, we uncover a compelling trend. An inverse correlation exists between heightened financial literacy and the likelihood of households encountering fraudulent losses. Furthermore, the elderly dependency ratio emerges as a potential moderating factor, exerting a mitigating influence. Notably, we find that financial literacy exerts a pronounced effect in mitigating the risk of fraud for male-headed households, underscoring its significance in safeguarding against threats.

Suggested Citation

  • He, Wei & Ling, Wenhao & Chen, Ziyi, 2025. "Financial literacy, old-age dependency ratio and household fraud risk," Finance Research Letters, Elsevier, vol. 75(C).
    • Handle: RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325001011
    DOI: 10.1016/j.frl.2025.106836
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