Comparative analysis of the influence of Chinese urban and rural family cultures on household financial asset allocation

Despite the national strategic priority to achieve common prosperity, there still exist prominent discrepancies in financial asset allocation between Chinese urban and rural families, which requires a deeper, more comprehensive investigation. To fill this gap, the present research adopted a cultural perspective to investigate relevant issues by addressing the cognitive differences of residents between urban and rural families. Under the analytical framework of Hofstede's cultural values, this paper discusses the cognitive differences between urban and rural families in terms of financial asset allocation in the cultural dimensions of collectivism, individualism and uncertainty avoidance; hypotheses are accordingly developed. In terms of research methods, the data of the China Family Panel Studies (CFPS) were used in the probit model to investigate the influence of urban and rural family cultural differences on household financial asset allocation. The results of this paper are as follows: (1) family cultural values have a positive impact on family financial asset allocation; (2) knowledge acquisition plays an intermediary role in family cultural values and family financial asset allocation; (3) and for rural families with high collectivism and uncertainty avoidance, the mediating effect is more prominent. This paper provides a new perspective for exploring the possibility of household asset allocation from the perspective of cultural psychology. The contribution of this paper have theoretical and practical reference significance to narrow the wealth gap between urban and rural areas and achieve common prosperity.

Psychological contract breach and job performance of new generation of employees: Considering the mediating effect of job burnout and the moderating effect of past breach experience

With the intensification of COVID-19 epidemic, it becomes prominent to discuss the issue about the influence of psychological contract breach on job performance of new generation of employees. Based on social exchange theory, fairness theory, and conservation of resource theory, this study constructed a relationship model between psychological contract breach and job performance of new generation of employees with considering the mediating effect of job burnout and the moderating effect of past breach experience. Our hypotheses were tested using data from 235 respondents working in Yunnan Province, China. The results were as follows: first, psychological contract breach had a significant negative effect on job performance of new generation of employees, whether in the whole sample or in two grouped samples; second, both in the overall sample and the grouped sample of state-owned enterprises, job burnout partially mediated the negative relationship between psychological contract breach and job performance of new generation of employees, and past experience of breach positively moderated the negative relationship between psychological contract breach and job performance of new generation of employees; third, in the grouped sample of non-state-owned enterprises, job burnout did not play a significant mediating role in the relationship between psychological contract breach and job performance of new generation of employees, and past breach experience did not play a significant moderating role in this relationship. These findings uncover the psychological mechanism underlying work performance of new generation of employees, and also provide useful theoretical reference for management practices of new generation of employees among different natures of enterprises.