Taking Chinese residents with Confucian cultural concepts as the research object, we construct structural equation models of family hierarchical order, risk preference, marriage intention, fertility intention, happiness, and family asset allocation intention to examine the mechanism of Confucian culture's influence on Chinese residents' family asset allocation intention and explore the mediating role of happiness. The results show that : (1) among the four dimensions of Confucianism, family hierarchical order significantly and negatively affects family asset allocation intention; risk preference, marriage intention, and fertility intention significantly and positively affect family asset allocation intention. (2) Marital intention and fertility intention significantly and positively affect happiness, and family hierarchical order and risk preference significantly and negatively affect happiness. (3) Happiness significantly and positively affects household asset allocation intentions. (4) Happiness is a significant mediating variable of Confucian culture influencing household asset allocation intention. (5) Family hierarchical order significantly and positively affects risk preference; risk preference significantly and positively affects marriage intention; marriage intention significantly and positively affects parenting intention. The study confirms the important role of Confucian culture and clarifies the centrality of happiness in households' willingness to allocate assets, which has implications for enhancing residents' happiness and expanding the market for household asset allocation and improving asset allocation efficiency.

Yuxiang Sun, Jiaxiao Chao. A Study on the Mechanism of Confucian Culture's Influence on Chinese Families' Willingness to Allocate Assets—And the Intermediary Role of Happiness. Academic Journal of Business & Management (2024) Vol. 6, Issue 7: 1-14. https://doi.org/10.25236/AJBM.2024.060701.

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