Jia, DekuiLi, RBian, SGan, Christopher2020-03-302019-09-192019-09-191540-496XSL7UV (isidoc)https://hdl.handle.net/10182/11664Using data from the 2014 China Family Panel Studies survey (CFPS), we investigate the effects of financial planning ability and risk perception on household portfolio choice. Our findings show that households with greater financial planning ability are more likely to invest in financial markets and hold a larger proportion of risky financial assets. The empirical results suggest that a higher level of risk perception leads to more market participation and risky assets holding. Compared with the insignificant effect of financial literacy, we find that financial planning ability significantly affects household investment earnings, and high financial planning ability tends to contribute to a positive investment return.23 pagesen© Taylor & Francis Group, LLCfinancial market participationfinancial planning abilityhousehold portfolio choicerisk perceptionrisky assets holdingFinancial planning ability, risk perception and household portfolio choiceJournal Article10.1080/1540496X.2019.16433191558-0938ANZSRC::3501 Accounting, auditing and accountabilityANZSRC::3502 Banking, finance and investmentANZSRC::3801 Applied economics