Author(s)

Ying Ye ¹

Affiliation(s)

¹ School of Finance, Guangdong University of Finance and Economics, Guangzhou, China

Corresponding Author

Ying Ye

ABSTRACT

Under the background of the growth of residents’ wealth in China and the fairly insufficient level of family financial asset allocation, how to optimize family asset allocation and improve the efficiency of family wealth management has become an important topic in family financial research. Based on the perspective of literature review and combined with VOSviewer keyword coexistence analysis, this article sorts out the research progress, mechanism and policy inspiration of digital finance affecting the asset allocation of residents' families. The study found that digital finance can generally promote family participation in the financial market. And digital finance can also improve the proportion of risky asset allocation and the level of portfolio diversification. But at the same time, it may induce excessive lending, irrational investment and family financial vulnerability. Its impact is obviously two-sided. Furthermore, digital finance mainly affects the allocation of family assets by improving the accessibility of financial services. It not only improve the ability to access information and financial literacy, but also alleviate liquidity constraints and change the level of risk-taking. There is an important difference between families with different income levels, urban and rural attributes and financial literacy. Based on this, we should further improve the digital financial infrastructure, strengthen the financial literacy education of residents. We improve the digital financial supervision system, and carry out differentiated support policies. These policies guide digital finance to better serve the optimization of family asset allocation, wealth management ability improvement.

KEYWORDS

Digital Finance; Household Asset Allocation; Resident Households; Literature Review; VOSviewer

CITE THIS PAPER

Ying Ye. The Impact of Digital Finance on Household Asset Allocation from a Literature Review Perspective. Financial Engineering and Risk Management (2026). Vol. 9, No. 1, 58-73. DOI: http://dx.doi.org/10.23977/ferm.2026.090106.

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