Page 104 - IJPS-11-2

International Journal of
Population Studies Do female-headed households have poorer finances?

2.2. Measurement has savings accounts, and (iv) the number of financial

Table 1 presents the study variables and their corresponding investment products owned by the household.
operational definitions. Whether the household’s income and expenditures are
balanced is assessed through the question, “Overall, was
2.2.1. Independent variable your family’s total income balanced with total expenditures
The independent variable in this study is the gender of the last year?” Responses indicating “income higher than or
household head, with female household heads assigned a equal to expenditures” are assigned a value of 1, while
value of 1 and male household heads assigned a value of 0. those indicating “income lower than expenditures” are
assigned a value of 0.
2.2.2. Dependent variables
The determination of whether the family has purchased
Household financial health is measured through the commercial insurance is estimated by the question,
following variables: (i) whether the household’s income “What type of commercial insurance did family members
and expenditures are balanced, (ii) whether the household purchase?” Responses such as “commercial life insurance,”
has commercial insurance, (iii) whether the household “commercial health insurance,” and “other commercial
insurance” are assigned a value of 1, while the response
Table 1. Study variables and their operationalization “none” is assigned a value of 0. The determination of

Variable Description Coding whether the family has a savings account is estimated by the
Independent Gender of 1=Female question, “currently, does your family have an undisbursed
variable household head 0=Male RMB regular savings account?” Responses indicating “yes”
Dependent Whether the 1=Income higher than or equal to are assigned a value of 1, while those indicating “no” are
variables household’s income expenditures assigned a value of 0. The number of financial investment
and expenditures 0=Income lower than expenditures products owned by the household is calculated as the sum
are balanced of internet finance, stocks, funds, and bonds. If a household
Whether the 1=Yes possesses one financial product, it is assigned a value of 1,
household has 0=No otherwise it is assigned a value of 0. The total score ranges
commercial from 0 to 4.
insurance
Whether the 1=Yes 2.2.3. Control variables (matching variables)
household has a 0=No
savings account The study selects the following seven variables as control
Number of financial Ranging from 0 to 4 variables: (i) age of the household head: categorized
investment as 16 – 35 years (assigned a value of 1), 36 – 55 years
products owned by (assigned a value of 2), and 56 – 80 years (assigned a value
the household of 3); (ii) Education attainment: categorized as below high
Control Age of the 1=16 – 35 years school (assigned a value of 1), high school (assigned a
variables household head 2=36 – 55 years value of 2), and above high school (assigned a value of 3);
3=56 – 80 years (iii) Occupational type: categorized as employer (assigned
Education 1=Below high school a value of 3), stable job (assigned a value of 2), temporary
attainment 2=High school job or farming (assigned a value of 1), and unemployed
3=Above high school
Occupational type 0=Unemployed (assigned a value of 0); (iv) Residence in a first-tier city:
assigned a value of 1 for residing in a first-tier city and
1=Temporary job or farming
2=Stable job 0 for a non-dweller in a first-tier city; (v) Residence in rural
3=Employer areas: assigned a value of 1 for residing in rural area and
Residence in a 1=Yes (first-tier city) 0 for living in urban area; (vi) Total income of the family
first-tier city 0=No (non-first-tier city) last year (logged); and (vii) Financial literacy, which is
Residence in rural 1=Rural assessed through the following three questions: question
areas 0=Urban 1: “how much attention do you pay to the economy and
Total income of the Logged value finance?” The response of “paying attention” is assigned
family last year a value of 1, while “no attention” is assigned a value of 0.
Financial literacy Ranging from 0 to 3 Question 2: “assuming the bank’s annual interest rate is
score (from 4%, how much principal and interest can you earn after
3 questions) depositing 100 yuan in a fixed deposit for 1 year?” The

Volume 11 Issue 2 (2025) 98 https://doi.org/10.36922/ijps.4403