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This paper examines households' stock market participation responses to a critical life‐cycle event, adult children's marriage. An event‐study difference‐in‐differences approach is employed to facilitate identification, which compares changes in the stock market participation behaviors of households that experience children's marriage with households that experience it later as well as households that never experience it. Exploiting household‐wide variations in exposure to children's marriage using the China Family Panel Studies data over the 2010–2020 period, this paper finds that 2 years after children's marriage, households significantly enhance their likelihood of participating in the stock market. Households' willingness to participate increases by 1.1 to 1.6 percentage points depending on specifications. This paper's finding supports time‐varying risk aversion at the household level. Mechanism analysis indicates that children's marriage raises household risk preferences because it mitigates parental old‐age support concerns and alleviates households' consumption commitment to housing and children.

This paper presents an analysis of the effects of public old-age support on individuals’ fertility decisions and on the long-term equilibrium in an overlapping generation economy with strategic bequest motives. Parents must pay their adult children at least the reservation wage to receive informal old-age support from them (individual rationality constraint). Formal old-age support is financed through wage taxes on children. The increased present value of formal old-age support tends to increase old-age utility, thereby decreasing the family support demand and decreasing savings for the old age. The increased wage tax reduces the opportunity cost of child-rearing time, thereby increasing the fertility rate. The effects of increased formal old-age support on per-worker capital and labor are indeterminate, as is the effect on the long-term lifetime utility of individuals. A strategic bequest motive might engender a higher fertility rate than that of the social optimum.

China’s gender imbalance has led to severe bachelorhood for decades. The purpose of this study was to examine the association between potential availability of family support and worry about old-age support for themselves and their parents from the perspective of rural bachelors. Data was drawn from a cross-sectional survey “Mobility, Sexuality, and Quality of Life of Never Married Men in Rural China”, which was conducted in 9 provinces in 2017. The sample included 359 men who were at least 28 years old, have rural household registration (hukou, in Chinese), and never married. Logistic regressions were used to examine the association between potential availability of family support, measured by living parents and siblings, and worry about old-age support. Results showed that rural bachelors who had a sister(s) were less likely to worry about both their own and their parents’ old-age support than those without sister(s) (OR = 0.496, p < 0.01; OR = 0.494, p < 0.01). Bachelors with a non-bachelor brother(s) were less likely to worry about their parents’ old-age support than those without brother(s) (OR = 0.436, p < 0.01). Our findings highlight the importance of potential availability of family support in determining worries about old-age support for bachelors and their parents. Considering the low level of social security in rural China and the rapid increase in the number of aging bachelors, policies that compensate for the lack of family support should be implemented to relieve vulnerable bachelors’ worries.

Nowadays, it is a general trend for China to enter a deep aging society, and the aging situation of the rural population is particularly severe. As informal endogenous resources in rural areas, social networks play an essential role in ensuring elders’ later life. Data were drawn from a questionnaire survey of 1126 rural elders in 11 provinces of China. Descriptive statistics and an ordinary least square regression model were conducted to explore the impact of social networks on the perception of old-age support risks of rural elders. There was a significant positive association between the social network size and the reduction in perception of old-age support risks of rural elders. The reduction effect was mainly reflected in the internal network size, whereas it was not evident in the external network size. There was a significant positive association between the heterogeneity of the network and the perceived level of old-age support risks of rural elders. There was a significant positive association between the communication frequency of external network relationships and the perceived level of old-age support risks of rural elders. We found a significant negative association between the ratio of communication frequency between the internal and external network relationships and the perception of old-age support risks of rural elders. Compared with the external network, the internal network had a more evident reduction effect on the social network mechanism of perception of old-age support risks of rural elders.

Using the Milligan and Wise ( 2015 ) and Cutler, Meara, and Richards-Shubik ( 2013 ) methodologies, we examine (i) how much would people today with a given mortality rate or life expectancy work if they were to work as much as those with the same mortality rate worked in the past, and (ii) how much could older adults extend their working lives if their health status improved. The results point to a sizable health capacity to work (HCW) among both older Korean men and women. Furthermore, the results imply that HCW is concentrated among more educated urban senior residents with access to the statutory pension system. We explain our results in the context of the Republic of Korea’s labor markets and old-age support systems. The results for the Republic of Korea imply that the previous results for other high-income economies, such as European countries and the United States, may not be applicable to high-income economies with underdeveloped pension systems.

This paper investigates the determinants of intergenerational patrilocal coresidence in Taiwan. We hypothesize that the function of coresidence can be either upstream transfer, where children care for old-age parents, or downstream transfer, where parents care for adult children. We explore these possibilities by controlling for the characteristics of husbands, wives, parents, and children across three generations in a family. We apply panel data methods to control for unobserved, time-invariant characteristics within family. We find that parents’ and children’s education and homeownership are important factors related to patrilocal coresidence. Using three-generational data, we show that parents who lived with the grandparents are 7% more likely to live with their adult children in Taiwan. We argue that this identifies upstream transfer as a more important function behind patrilocal coresidence in Taiwan, which leads to the observed steady patrilocal coresidence rate across generations.

The number of “left-behind” rural elderly has been increasing in China. Although rural elderly support has been examined, the existing studies mainly reveal the current living arrangements of the rural elderly and the actual support that adult migrant children provide for their old parents. The rural migrants’ intended living arrangements for their “left-behind” parents have rarely been investigated. Therefore, the paper aims to investigate the pattern of and explore the underlying decision-making involved in living arrangements that adult migrant children intend to provide for their “left-behind” aging parents in the countryside. It is assumed that living arrangements were the functions of adult migrants’ residency plan for the future, their socioeconomic status and cultural values towards “filial piety”. A questionnaire survey was conducted in Jiangsu province to test the assumptions. One-way ANOVA and Tukey post-hoc tests were used to examine the disparities of the socioeconomic characteristics among the seven options of living arrangements. The results show that most of the rural migrants wanted to change their parents’ current “left-behind” status. They preferred to live together with their elderly parents in rural hometowns. A significant proportion of the respondents consider settling in cities adjacent to their rural hometowns. Rural migrants’ intended living arrangements for their left-behind parents are mediated by their future expectations, caring attitudes and financial circumstances. Institutional barriers for, and the disadvantageous status of, the rural migrants are the main impact factors.

PurposeThis research highlights age-specific barriers to employment for older workers and the gap between activation policy design and implementation, focusing on difficulties in extending working life under employment support services.Design/methodology/approachThis research employed a qualitative approach, utilizing semi-structured interviews to gather perspectives on extending the working lives of older adults. Eighteen experienced social workers who worked in employment support services for older workers who aged fifty-five and above participated in the study.FindingsThis study underscores the importance of comprehensively understanding the heterogeneity of individuals' circumstances and emphasizes the impact of intersectionality on the development of extending working life. It incorporates individual and familial difficulties, including considering caregiving responsibilities, health issues and housing challenges before exploring employment-related concerns. The study also highlights external factors influencing older workers' employment prospects, including employer perspectives, government support levels and public recognition of the necessity to extend working life.Research limitations/implicationsThis research sheds light on the impact of welfare-related stigma, which imposes obstacles and inflexibility on older workers seeking employment. It ultimately contributes to the sustainability and dynamism of the Asia–Pacific workforce while also informing regional discussions on social security and welfare services.Originality/valueIt uniquely employs the perspectives of social workers providing employment support services to highlight challenges and policy gaps in extending the working lives of older workers in Hong Kong. It also provides practical insights into strategies and mechanisms for extending working life across diverse social contexts.

The current study aimed to gain a better understanding of Chinese seniors' demographic information as well as their attitudes toward old-age support as an indicator for their subjective well-being related to their retirement preparation. Particularly, the variation of demographic and attitudinal characteristics within the population was examined. The data was based on a sample of the Chinese senior population, aged 60 and over in 2006 from 20 provinces and metropolitan areas in China. A two-step cluster analysis was used in the current study and the auto-clustering algorithm indicated a two-cluster solution. Both demographic information and attitudinal responses were used for the clusters. The results showed that Chinese seniors' attitudinal and behavioral traits were relevant to the classification with regard to their retirement preparedness. The current study demonstrated that Chinese seniors were a heterogeneous group that could be divided into two basic, distinct segments, namely, helpless dependents and active independents. Each different group of seniors may raise different key issues in meeting their needs for retirement management.

Because sex ratios at birth have risen sharply in China in recent decades, an increasing proportion of men will be unable to find a bride, and will face old age without the support of a wife and children. We project the proportions of never-married men and their geographical distribution in China in the coming decades. Our projections assume that two tendencies in current marriage patterns will persist: that women will continue to migrate to wealthier areas and to prefer men with better prospects. We find that, by 2030, more than 20 per cent of men in China aged 30-39 will never have married, and that the proportion will be especially high among poor men in low-income provinces that are least able to provide social protection programmes. The projected geographic concentration of bachelors could be socially disruptive, and the results suggest a need to expand the coverage and central financing of social protection programmes.