@article {Li1217-9245R2, author = {Wenchao Li and Changcheng Song and Shu Xu and Junjian Yi}, title = {High Sex Ratios and Household Portfolio Choice in China}, elocation-id = {1217-9245R2}, year = {2020}, doi = {10.3368/jhr.57.2.1217-9245R2}, publisher = {University of Wisconsin Press}, abstract = {This paper studies how high sex ratios (more men than women) affect household portfolio choice. Using data from a nationally representative Chinese household finance survey, we find that a 1 standard deviation increase in the sex ratio would raise the stock market participation rate by 2.9 percentage points or 52.2 percent for families with a son relative to families with a daughter. Our estimates imply that rising sex ratios explain around 10 percent of the significant growth in China{\textquoteright}s stock market size in recent decades.}, issn = {0022-166X}, URL = {https://jhr.uwpress.org/content/early/2020/01/08/jhr.57.2.1217-9245R2}, eprint = {https://jhr.uwpress.org/content/early/2020/01/08/jhr.57.2.1217-9245R2.full.pdf}, journal = {Journal of Human Resources} }