earticle

영어

With the deepening of population aging in China, the traditional home care, community care and institutional care can hardly meet the needs of the society, Establishing mutual aid-based elderly care models has emerged as a new solution to address the current challenges in elderly care, and the "time bank" mutual care model has become a new way to solve the problem of old age with its unique business concept and operation. Literature has shown that residents' individual financial literacy significantly affects their retirement planning, however, research on time bank has primarily focused on identifying the factors constraining their development and the breakthroughs achieved at the technical level, there is little literature on the relationship between residents' individual financial literacy and the willingness of middle-aged and elderly people to participate in time bank. In view of this, this paper firstly derived five core research hypotheses based on theoretical and literature analysis, and accordingly strictly followed the questionnaire design process to design the questionnaire, conducted a questionnaire survey on middle-aged and elderly people in Hangzhou and Taizhou, a pilot area of time bank in Zhejiang Province, using multi-stage sampling method, and comprehensively used the analysis methods of multiple regression analysis, mediation effect model and structural equation modeling to empirically test the relationship between financial literacy and the willingness of middle-aged and elderly people to participate in time bank. The impact of financial literacy on middle-aged and elderly people's willingness to participate in time bank was empirically tested, and theoretical mechanisms such as wealth accumulation, risk attitude, precautionary motive, and self-actualization were identified. The empirical study found that financial literacy has a positive impact on middle-aged and elderly people's willingness to participate in time bank under the effect of four mediating variables: wealth accumulation, risk attitude, precautionary motive, and self-actualization. The findings of this paper provide empirical references to promote the development and popularization of the time-bank mutual care model from the perspective of finance, which can assist middle-aged and elderly people in formulating scientifically informed retirement plans, help to reduce the pressure of old-age care from all parties in the society, and promote the circular flow and effective allocation of social resources for old-age care.